PVG Asset Management Corp boosted its position in shares of Tremont Mortgage Trust (NASDAQ:TRMT) by 373.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 326,646 shares of the company’s stock after acquiring an additional 257,646 shares during the quarter. Tremont Mortgage Trust comprises about 1.4% of PVG Asset Management Corp’s portfolio, making the stock its 21st largest position. PVG Asset Management Corp’s holdings in Tremont Mortgage Trust were worth $1,349,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Tremont Mortgage Trust by 105.3% in the 2nd quarter. Vanguard Group Inc. now owns 197,385 shares of the company’s stock valued at $815,000 after acquiring an additional 101,248 shares during the period. Bank of New York Mellon Corp acquired a new stake in Tremont Mortgage Trust during the 2nd quarter worth about $165,000. Rational Advisors LLC lifted its position in Tremont Mortgage Trust by 15.0% during the 2nd quarter. Rational Advisors LLC now owns 76,500 shares of the company’s stock worth $316,000 after acquiring an additional 10,000 shares during the period. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in Tremont Mortgage Trust during the 2nd quarter worth about $41,000. Finally, JPMorgan Chase & Co. acquired a new stake in Tremont Mortgage Trust during the 2nd quarter worth about $28,000. 11.69% of the stock is owned by institutional investors.
NASDAQ TRMT traded down $0.04 during trading hours on Friday, reaching $4.74. The company’s stock had a trading volume of 222 shares, compared to its average volume of 21,186. The firm has a market capitalization of $38.33 million, a price-to-earnings ratio of 12.05 and a beta of 1.11. Tremont Mortgage Trust has a 1-year low of $3.87 and a 1-year high of $12.00. The company has a debt-to-equity ratio of 2.13, a current ratio of 11.37 and a quick ratio of 11.37. The company’s 50-day moving average is $4.55 and its two-hundred day moving average is $6.33.
A number of equities analysts recently weighed in on the company. JMP Securities assumed coverage on Tremont Mortgage Trust in a report on Wednesday, July 10th. They issued an “outperform” rating and a $6.00 price target for the company. Citigroup reduced their price target on Tremont Mortgage Trust from $9.50 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th.
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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