Blackstone Mortgage Trust (NYSE:BXMT) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Blackstone Mortgage Trust (NYSE:BXMT) announced its earnings results on Wednesday. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.13, MarketWatch Earnings reports. The business had revenue of $107.13 million during the quarter, compared to the consensus estimate of $105.95 million. Blackstone Mortgage Trust had a return on equity of 8.36% and a net margin of 16.38%. During the same period in the prior year, the company posted $0.68 EPS.

Shares of NYSE BXMT traded down $0.12 during mid-day trading on Friday, reaching $24.07. 1,077,058 shares of the company’s stock were exchanged, compared to its average volume of 1,063,684. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 10.29 and a beta of 1.26. Blackstone Mortgage Trust has a 52-week low of $12.67 and a 52-week high of $40.62. The company’s 50-day moving average is $23.58 and its 200-day moving average is $27.35.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 10.30%. The ex-dividend date was Monday, June 29th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 100.81%.

Several research analysts recently commented on BXMT shares. Citigroup increased their price objective on Blackstone Mortgage Trust from $13.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Bank of America raised Blackstone Mortgage Trust from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Credit Suisse Group reduced their price objective on Blackstone Mortgage Trust from $37.50 to $24.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $40.50 to $25.50 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Finally, Zacks Investment Research downgraded Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.50.

In other news, EVP Douglas N. Armer sold 1,228 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $25.88, for a total transaction of $31,780.64. Following the completion of the transaction, the executive vice president now directly owns 83,700 shares in the company, valued at approximately $2,166,156. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Katharine A. Keenan sold 2,782 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $24.36, for a total value of $67,769.52. Following the transaction, the president now owns 72,558 shares of the company’s stock, valued at $1,767,512.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,066 shares of company stock valued at $155,749. Company insiders own 1.00% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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Earnings History for Blackstone Mortgage Trust (NYSE:BXMT)

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