Claros Mortgage Trust (NYSE:CMTG) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $1.35 and traded as high as $1.9550. Claros Mortgage Trust shares last traded at $1.8470, with a volume of 21,874,004 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMTG. UBS Group initiated coverage on shares of Claros Mortgage Trust in a report on Thursday, July 16th. They set a “neutral” rating and a $2.75 price objective on the stock. Wall Street Zen cut shares of Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Claros Mortgage Trust in a research report on Friday, October 30th. Wells Fargo & Company reduced their price target on shares of Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods decreased their price target on Claros Mortgage Trust from $2.15 to $1.75 and set an “underperform” rating on the stock in a research note on Friday, October 9th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Claros Mortgage Trust currently has an average rating of “Strong Sell” and a consensus price target of $2.08.

Claros Mortgage Trust Stock Up 66.4%

The company has a market cap of $260.58 million, a price-to-earnings ratio of -0.50 and a beta of 1.17. The company has a fifty day simple moving average of $1.35 and a two-hundred day simple moving average of $2.11.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.31. Claros Mortgage Trust had a negative return on equity of 20.14% and a negative net margin of 371.29%. The business had revenue of $32.64 million during the quarter, compared to the consensus estimate of $24.25 million. On average, research analysts predict that Claros Mortgage Trust, Inc. will post -2.50 EPS for the current year.

Insider Buying and Selling

In other Claros Mortgage Trust news, CEO Richard Mack bought 20,603 shares of the company’s stock in a transaction on Friday, September 4th. The stock was purchased at an average cost of $1.59 per share, for a total transaction of $32,758.77. Following the acquisition, the chief executive officer owned 3,110,911 shares of the company’s stock, valued at $4,946,348.49. The trade was a 0.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMTG. Sei Investments Co. lifted its holdings in shares of Claros Mortgage Trust by 152.3% in the first quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock valued at $378,000 after purchasing an additional 95,805 shares in the last quarter. Bank of America Corp DE grew its position in shares of Claros Mortgage Trust by 41.0% in the first quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock valued at $258,000 after purchasing an additional 31,494 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Claros Mortgage Trust in the first quarter valued at approximately $212,000. FNY Investment Advisers LLC acquired a new stake in shares of Claros Mortgage Trust in the second quarter valued at approximately $205,000. Finally, Renaissance Technologies LLC increased its stake in shares of Claros Mortgage Trust by 81.4% during the 1st quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock worth $116,000 after purchasing an additional 21,900 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust, Inc is a real estate investment trust focused on originating, acquiring and managing commercial real estate debt investments. The company primarily provides financing to owners and investors of commercial properties, with an emphasis on transitional assets that may require renovation, repositioning or lease-up before reaching stabilized operations.

Its investment portfolio has primarily consisted of senior and subordinate mortgage loans secured by commercial real estate, including multifamily, office, hotel, retail, industrial and mixed-use properties.