Citigroup Trims Tremont Mortgage Trust (NASDAQ:TRMT) Target Price to $5.00

Tremont Mortgage Trust (NASDAQ:TRMT) had its price target reduced by Citigroup from $9.50 to $5.00 in a report issued on Wednesday, June 5th, The Fly reports. They currently have a neutral rating on the stock.

Separately, UBS Group lowered shares of Tremont Mortgage Trust from a buy rating to a neutral rating and cut their target price for the stock from $16.00 to $5.00 in a research report on Tuesday, May 21st.

TRMT stock traded up $0.09 during midday trading on Wednesday, reaching $4.13. 89,156 shares of the company’s stock traded hands, compared to its average volume of 120,483. The firm has a 50-day moving average price of $5.03. The company has a debt-to-equity ratio of 2.25, a current ratio of 12.63 and a quick ratio of 12.62. Tremont Mortgage Trust has a 52 week low of $3.87 and a 52 week high of $13.80.

Tremont Mortgage Trust (NASDAQ:TRMT) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $1.45 million during the quarter. Tremont Mortgage Trust had a negative net margin of 1.81% and a negative return on equity of 0.14%.

In related news, Director Joseph Morea bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of $5.23 per share, for a total transaction of $52,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Blackman bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $5.18 per share, with a total value of $25,900.00. The disclosure for this purchase can be found here. 20.20% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Tremont Mortgage Trust stock. BB&T Securities LLC raised its holdings in shares of Tremont Mortgage Trust (NASDAQ:TRMT) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,273 shares of the company’s stock after buying an additional 21,702 shares during the period. BB&T Securities LLC owned about 5.86% of Tremont Mortgage Trust worth $1,685,000 at the end of the most recent reporting period. 6.57% of the stock is currently owned by institutional investors.

About Tremont Mortgage Trust

Tremont Mortgage Trust, a real estate investment trust (REIT), focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate in the United States. The company qualifies as a REIT for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.

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