Legal & General Group Plc Trims Position in Claros Mortgage Trust, Inc. (NYSE:CMTG)

Legal & General Group Plc lessened its stake in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 40.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 77,462 shares of the company’s stock after selling 53,272 shares during the quarter. Legal & General Group Plc’s holdings in Claros Mortgage Trust were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CMTG. Koch Inc. purchased a new stake in Claros Mortgage Trust in the fourth quarter valued at approximately $68,374,000. Geode Capital Management LLC raised its position in shares of Claros Mortgage Trust by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,330,895 shares of the company’s stock valued at $10,538,000 after buying an additional 10,835 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Claros Mortgage Trust by 19.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,679,701 shares of the company’s stock valued at $7,592,000 after buying an additional 277,053 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Claros Mortgage Trust by 35.5% during the 4th quarter. JPMorgan Chase & Co. now owns 649,674 shares of the company’s stock valued at $2,937,000 after buying an additional 170,244 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Claros Mortgage Trust by 62.1% during the 4th quarter. Bank of New York Mellon Corp now owns 568,754 shares of the company’s stock valued at $2,571,000 after buying an additional 217,989 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Price Performance

CMTG stock opened at $2.46 on Thursday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67. Claros Mortgage Trust, Inc. has a 52 week low of $2.13 and a 52 week high of $9.81. The firm’s fifty day moving average is $2.99 and its 200 day moving average is $4.39. The firm has a market cap of $342.83 million, a P/E ratio of -1.55 and a beta of 1.12.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Wednesday, February 19th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $60.23 million for the quarter, compared to analyst estimates of $58.07 million. Claros Mortgage Trust had a negative net margin of 89.07% and a positive return on equity of 4.72%. Research analysts predict that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

CMTG has been the topic of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a research report on Thursday, February 27th. UBS Group lowered their price objective on shares of Claros Mortgage Trust from $5.25 to $3.50 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Claros Mortgage Trust has a consensus rating of “Hold” and a consensus target price of $3.88.

Insiders Place Their Bets

In related news, CFO Mike Mcgillis purchased 24,115 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $3.30 per share, with a total value of $79,579.50. Following the completion of the purchase, the chief financial officer now directly owns 475,945 shares in the company, valued at approximately $1,570,618.50. This represents a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Mack acquired 25,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $3.38 per share, for a total transaction of $84,500.00. Following the completion of the transaction, the chief executive officer now owns 2,589,981 shares in the company, valued at approximately $8,754,135.78. This represents a 0.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 169,115 shares of company stock valued at $547,930 in the last quarter. Insiders own 1.40% of the company’s stock.

Claros Mortgage Trust Profile

Claros Mortgage Trust, Inc operates as a real estate investment trust. It focuses on originating senior and subordinate loans on transitional commercial real estate assets in the United States. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders.