Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have received an average rating of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.83.
A number of research analysts recently weighed in on BXMT shares. BTIG Research reissued a “buy” rating and issued a $35.00 target price on shares of Blackstone Mortgage Trust in a report on Friday, September 10th. Zacks Investment Research upgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, October 5th.
Blackstone Mortgage Trust stock traded up $0.33 during midday trading on Monday, hitting $32.54. The stock had a trading volume of 13,853 shares, compared to its average volume of 1,121,906. Blackstone Mortgage Trust has a 52-week low of $20.70 and a 52-week high of $33.88. The company has a market capitalization of $4.78 billion, a PE ratio of 12.34 and a beta of 1.32. The firm’s fifty day moving average is $31.87 and its two-hundred day moving average is $31.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, September 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.62%. Blackstone Mortgage Trust’s dividend payout ratio is 110.71%.
In other news, President Katharine A. Keenan sold 1,164 shares of the company’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $32.86, for a total transaction of $38,249.04. Following the transaction, the president now directly owns 86,151 shares of the company’s stock, valued at $2,830,921.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Katharine A. Keenan sold 1,906 shares of the business’s stock in a transaction that occurred on Thursday, September 30th. The stock was sold at an average price of $30.61, for a total transaction of $58,342.66. The disclosure for this sale can be found here. Insiders have sold a total of 6,174 shares of company stock valued at $197,691 over the last three months. 1.06% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Blackstone Mortgage Trust by 20.0% in the first quarter. Van ECK Associates Corp now owns 515,136 shares of the real estate investment trust’s stock worth $15,969,000 after acquiring an additional 85,949 shares during the period. NFJ Investment Group LLC purchased a new stake in Blackstone Mortgage Trust in the first quarter valued at $21,072,000. Millennium Management LLC raised its stake in shares of Blackstone Mortgage Trust by 130.6% during the 1st quarter. Millennium Management LLC now owns 652,367 shares of the real estate investment trust’s stock valued at $20,223,000 after buying an additional 369,422 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Blackstone Mortgage Trust in the 2nd quarter valued at about $146,000. Finally, Richard Bernstein Advisors LLC acquired a new position in shares of Blackstone Mortgage Trust in the 1st quarter valued at about $969,000. 55.14% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc is a real estate finance company, which engages in originating senior loans collateralized by commercial real estate. Its investment objective is to preserve and protect shareholder capital while producing risk-adjusted returns primarily through dividends generated from current income from its loan portfolio.
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