Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $20.83 Consensus Target Price from Analysts

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been given an average recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.93.

Several analysts have commented on the company. UBS Group cut their target price on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday. BTIG Research cut their target price on 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. Wells Fargo & Company dropped their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods dropped their price target on Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $21.00 in a research note on Monday, March 4th.

Blackstone Mortgage Trust Trading Up 1.5 %

Shares of BXMT opened at $17.91 on Tuesday. The business’s fifty day simple moving average is $19.47 and its two-hundred day simple moving average is $20.57. Blackstone Mortgage Trust has a 12 month low of $16.83 and a 12 month high of $23.82. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 597.00 and a beta of 1.42.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.62 dividend. 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 13.85%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares in the company, valued at $3,967,565.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the transaction, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at $3,967,565.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,540 shares of company stock worth $112,642. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Blackstone Mortgage Trust by 35.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,096,198 shares of the real estate investment trust’s stock valued at $23,316,000 after purchasing an additional 289,643 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Blackstone Mortgage Trust during the third quarter valued at about $1,136,000. Ibex Wealth Advisors bought a new stake in Blackstone Mortgage Trust during the third quarter valued at about $4,716,000. Vanguard Group Inc. raised its holdings in Blackstone Mortgage Trust by 15.3% during the third quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after acquiring an additional 2,470,412 shares during the period. Finally, Jump Financial LLC raised its holdings in Blackstone Mortgage Trust by 124.8% during the third quarter. Jump Financial LLC now owns 78,673 shares of the real estate investment trust’s stock valued at $1,711,000 after acquiring an additional 43,673 shares during the period. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

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.