Insider Buying: Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Director Purchases $998,375.00 in Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Director Timothy Steven Johnson purchased 57,050 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $17.50 per share, with a total value of $998,375.00. Following the completion of the purchase, the director now owns 423,251 shares in the company, valued at $7,406,892.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Blackstone Mortgage Trust Stock Up 0.9 %

Shares of Blackstone Mortgage Trust stock opened at $17.54 on Friday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 584.67 and a beta of 1.49. The stock’s 50-day simple moving average is $17.90 and its 200-day simple moving average is $18.69. Blackstone Mortgage Trust, Inc. has a 52 week low of $16.53 and a 52 week high of $23.67.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $466.15 million for the quarter, compared to analysts’ expectations of $131.87 million. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. During the same period in the previous year, the firm earned $0.75 EPS. On average, equities analysts expect that Blackstone Mortgage Trust, Inc. will post 1.94 earnings per share for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 10.72%. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.

Analysts Set New Price Targets

BXMT has been the subject of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 target price on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 18th. BTIG Research restated a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, July 23rd. UBS Group cut their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company decreased their price objective on Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.58.

Institutional Trading of Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of the stock. Blackstone Inc. increased its holdings in shares of Blackstone Mortgage Trust by 9.5% in the fourth quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust’s stock worth $169,074,000 after purchasing an additional 686,881 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Blackstone Mortgage Trust by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,531,729 shares of the real estate investment trust’s stock worth $53,850,000 after acquiring an additional 106,670 shares in the last quarter. Norges Bank bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at approximately $38,747,000. Goldman Sachs Group Inc. grew its holdings in shares of Blackstone Mortgage Trust by 82.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,169,503 shares of the real estate investment trust’s stock valued at $24,875,000 after purchasing an additional 528,950 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Blackstone Mortgage Trust by 35.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,096,198 shares of the real estate investment trust’s stock worth $23,316,000 after purchasing an additional 289,643 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.