Tremont Mortgage Trust (NASDAQ:TRMT) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 59,100 shares, a decline of 18.1% from the May 30th total of 72,200 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 134,000 shares, the days-to-cover ratio is currently 0.4 days.
A number of equities analysts have recently commented on TRMT shares. Citigroup lowered their price objective on Tremont Mortgage Trust from $9.50 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. UBS Group set a €117.00 ($136.05) target price on SAP and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, JMP Securities began coverage on Tremont Mortgage Trust in a research note on Wednesday. They set an “outperform” rating and a $6.00 target price for the company.
TRMT stock traded up $0.13 during trading on Friday, hitting $4.29. 61,924 shares of the company’s stock were exchanged, compared to its average volume of 73,318. The firm’s 50-day moving average price is $4.47. Tremont Mortgage Trust has a 52-week low of $3.87 and a 52-week high of $13.80. The company has a quick ratio of 12.62, a current ratio of 12.63 and a debt-to-equity ratio of 2.25.
In related news, Director Joseph Morea acquired 10,000 shares of the stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $5.23 per share, with a total value of $52,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Blackman acquired 5,000 shares of the stock in a transaction dated Friday, May 17th. The shares were bought at an average cost of $5.18 per share, with a total value of $25,900.00. The disclosure for this purchase can be found here. Insiders own 20.20% of the company’s stock.
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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