Blackstone Mortgage Trust (NYSE:BXMT – Get Free Report) announced its earnings results on Wednesday. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04, Zacks reports. Blackstone Mortgage Trust had a net margin of 0.24% and a return on equity of 10.72%. The business had revenue of $466.15 million during the quarter, compared to the consensus estimate of $131.87 million. During the same quarter last year, the firm earned $0.75 earnings per share.
Blackstone Mortgage Trust Stock Performance
BXMT stock traded up $0.06 during mid-day trading on Thursday, hitting $17.41. The company had a trading volume of 3,715,533 shares, compared to its average volume of 2,145,769. The firm has a market cap of $3.02 billion, a PE ratio of 582.67 and a beta of 1.49. Blackstone Mortgage Trust has a 12 month low of $16.70 and a 12 month high of $23.82. The stock’s fifty day moving average price is $17.90 and its two-hundred day moving average price is $18.94.
Blackstone Mortgage Trust Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.80%. The ex-dividend date is Monday, September 30th. Blackstone Mortgage Trust’s payout ratio is currently 8,266.67%.
Analysts Set New Price Targets
Get Our Latest Analysis on BXMT
Insiders Place Their Bets
In other news, CEO Katharine A. Keenan sold 2,259 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total value of $38,493.36. Following the sale, the chief executive officer now owns 189,764 shares of the company’s stock, valued at $3,233,578.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Katharine A. Keenan sold 2,259 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total transaction of $38,493.36. Following the completion of the transaction, the chief executive officer now owns 189,764 shares of the company’s stock, valued at $3,233,578.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 2,296 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.04, for a total transaction of $39,123.84. Following the transaction, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at approximately $3,194,454.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,057 shares of company stock valued at $191,141. Company insiders own 0.93% of the company’s stock.
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.
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