Analysts Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) PT at $20.83

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $19.93.

Several research firms have weighed in on BXMT. BTIG Research lowered their price objective on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. UBS Group reduced their target price on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reduced their target price on Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Bank of America lowered Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $21.00 in a report on Monday, March 4th.

Blackstone Mortgage Trust Price Performance

BXMT stock opened at $17.91 on Tuesday. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 597.00 and a beta of 1.42. The business’s fifty day moving average price is $19.47 and its two-hundred day moving average price is $20.57. Blackstone Mortgage Trust has a fifty-two week low of $16.83 and a fifty-two week high of $23.82.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 13.85%. The ex-dividend date was Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,275 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at $3,967,565.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. Insiders have sold 5,540 shares of company stock valued at $112,642 over the last ninety days. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Blackstone Mortgage Trust by 35.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,096,198 shares of the real estate investment trust’s stock valued at $23,316,000 after acquiring an additional 289,643 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Blackstone Mortgage Trust during the third quarter valued at approximately $1,136,000. Ibex Wealth Advisors bought a new stake in shares of Blackstone Mortgage Trust during the third quarter valued at approximately $4,716,000. Vanguard Group Inc. increased its holdings in shares of Blackstone Mortgage Trust by 15.3% during the third quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after acquiring an additional 2,470,412 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Blackstone Mortgage Trust by 124.8% during the third quarter. Jump Financial LLC now owns 78,673 shares of the real estate investment trust’s stock valued at $1,711,000 after acquiring an additional 43,673 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.