Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives Average Rating of “Hold” from Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.93.

A number of analysts have recently weighed in on BXMT shares. Wolfe Research started coverage on Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They set a “peer perform” rating on the stock. UBS Group reduced their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 price objective on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 18th. BTIG Research cut their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company decreased their price target on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,259 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 189,764 shares in the company, valued at approximately $3,233,578.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Katharine A. Keenan sold 2,259 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $17.04, for a total value of $38,493.36. Following the completion of the sale, the chief executive officer now directly owns 189,764 shares of the company’s stock, valued at approximately $3,233,578.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 2,296 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the sale, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at $3,194,454.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,057 shares of company stock worth $191,141. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently modified their holdings of BXMT. Central Bank & Trust Co. purchased a new stake in Blackstone Mortgage Trust in the 4th quarter valued at $25,000. Park Place Capital Corp acquired a new position in Blackstone Mortgage Trust in the second quarter valued at $26,000. Versant Capital Management Inc raised its holdings in shares of Blackstone Mortgage Trust by 66.4% in the second quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 871 shares during the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth about $42,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth about $45,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT stock opened at $18.96 on Friday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 632.00 and a beta of 1.49. Blackstone Mortgage Trust has a fifty-two week low of $16.70 and a fifty-two week high of $23.82. The company has a 50 day moving average price of $17.71 and a 200 day moving average price of $19.12.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.62 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.48 annualized dividend and a yield of 13.08%. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.

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.