Insider Buying: Tremont Mortgage Trust (TRMT) Director Purchases 10,000 Shares of Stock
Tremont Mortgage Trust (NASDAQ:TRMT) Director Joseph Morea purchased 10,000 shares of the stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $5.23 per share, for a total transaction of $52,300.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
NASDAQ:TRMT opened at $4.87 on Thursday. Tremont Mortgage Trust has a twelve month low of $4.82 and a twelve month high of $13.80. The company has a current ratio of 12.63, a quick ratio of 12.62 and a debt-to-equity ratio of 2.25.
Tremont Mortgage Trust (NASDAQ:TRMT) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The firm had revenue of $1.45 million for the quarter. Tremont Mortgage Trust had a negative return on equity of 0.14% and a negative net margin of 1.81%.
Separately, UBS Group lowered Tremont Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $5.00 in a research report on Tuesday.
Several large investors have recently bought and sold shares of TRMT. Renaissance Technologies LLC acquired a new position in shares of Tremont Mortgage Trust during the 1st quarter worth approximately $105,000. Raymond James & Associates increased its holdings in shares of Tremont Mortgage Trust by 31.8% during the 1st quarter. Raymond James & Associates now owns 19,900 shares of the company’s stock worth $175,000 after acquiring an additional 4,800 shares during the last quarter. Finally, BB&T Securities LLC increased its holdings in shares of Tremont Mortgage Trust by 13.2% during the 4th quarter. BB&T Securities LLC now owns 186,273 shares of the company’s stock worth $1,685,000 after acquiring an additional 21,702 shares during the last quarter. 16.18% of the stock is currently owned by hedge funds and other institutional investors.
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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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