Blackstone Mortgage Trust, Inc. (BXMT) To Go Ex-Dividend on March 30th

Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) declared a quarterly dividend on Wednesday, March 15th, Zacks reports. Shareholders of record on Friday, March 31st will be paid a dividend of 0.62 per share by the real estate investment trust on Friday, April 14th. This represents a $2.48 annualized dividend and a yield of 13.94%. The ex-dividend date of this dividend is Thursday, March 30th.

Blackstone Mortgage Trust has a payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Blackstone Mortgage Trust to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 92.2%.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT opened at $17.79 on Friday. Blackstone Mortgage Trust has a 12 month low of $17.30 and a 12 month high of $32.90. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.62 and a beta of 1.34. The business’s 50 day simple moving average is $22.17 and its 200-day simple moving average is $23.83.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, Director Michael B. Nash bought 50,000 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $18.86 per share, for a total transaction of $943,000.00. Following the acquisition, the director now owns 468,455 shares of the company’s stock, valued at approximately $8,835,061.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Henry N. Nassau acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average price of $17.81 per share, for a total transaction of $178,100.00. Following the completion of the purchase, the director now directly owns 127,348 shares of the company’s stock, valued at approximately $2,268,067.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael B. Nash bought 50,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was purchased at an average price of $18.86 per share, with a total value of $943,000.00. Following the completion of the purchase, the director now directly owns 468,455 shares of the company’s stock, valued at approximately $8,835,061.30. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Money Concepts Capital Corp boosted its stake in Blackstone Mortgage Trust by 1,206.3% during the 4th quarter. Money Concepts Capital Corp now owns 3,958 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 3,655 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Blackstone Mortgage Trust in the fourth quarter worth about $88,000. Covestor Ltd increased its holdings in Blackstone Mortgage Trust by 153.4% in the first quarter. Covestor Ltd now owns 4,981 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 3,015 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in Blackstone Mortgage Trust during the first quarter valued at approximately $200,000. Finally, Captrust Financial Advisors bought a new position in Blackstone Mortgage Trust during the 2nd quarter worth approximately $179,000. Hedge funds and other institutional investors own 54.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BXMT. StockNews.com initiated coverage on Blackstone Mortgage Trust in a report on Thursday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods cut Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating and set a $26.00 price objective for the company. in a research report on Thursday, December 15th. Citigroup reduced their target price on shares of Blackstone Mortgage Trust from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, February 13th. Finally, TheStreet downgraded shares of Blackstone Mortgage Trust from a “b-” rating to a “c+” rating in a report on Tuesday, December 6th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Blackstone Mortgage Trust Company Profile

(Get Rating)

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.