Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $19.00 at UBS Group

Blackstone Mortgage Trust (NYSE:BXMT) had its price target reduced by UBS Group from $21.00 to $19.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on BXMT. Keefe, Bruyette & Woods decreased their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating on the stock in a research report on Wednesday, April 10th. Wells Fargo & Company cut their target price 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. BTIG Research dropped 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 report on Wednesday, April 17th. Bank of America lowered shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and dropped their target price for the company from $22.00 to $21.00 in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating on the stock in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $20.29.

Blackstone Mortgage Trust Stock Up 1.8 %

BXMT traded up $0.32 during trading on Thursday, reaching $17.97. The company had a trading volume of 138,574 shares, compared to its average volume of 2,149,047. The business has a 50 day simple moving average of $19.51 and a 200-day simple moving average of $20.60. Blackstone Mortgage Trust has a 52 week low of $16.83 and a 52 week high of $23.82. The stock has a market cap of $3.12 billion, a P/E ratio of 588.33 and a beta of 1.42.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.80%. Blackstone Mortgage Trust’s payout ratio is 8,266.67%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Blackstone Mortgage Trust

Hedge funds have recently modified their holdings of the stock. Glassy Mountain Advisors Inc. increased its holdings in Blackstone Mortgage Trust by 8.0% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 61,186 shares of the real estate investment trust’s stock worth $1,218,000 after buying an additional 4,546 shares during the period. Verity & Verity LLC purchased a new stake in Blackstone Mortgage Trust during the first quarter worth about $1,705,000. Childress Capital Advisors LLC increased its stake in shares of Blackstone Mortgage Trust by 16.4% during the first quarter. Childress Capital Advisors LLC now owns 14,197 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 2,000 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Blackstone Mortgage Trust in the first quarter valued at approximately $110,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Blackstone Mortgage Trust during the first quarter worth $83,000. 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.