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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has earned an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.83.

Several equities analysts have issued reports on the stock. BTIG Research decreased their price objective 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. Keefe, Bruyette & Woods cut their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Bank of America cut Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $21.00 in a report on Monday, March 4th. JPMorgan Chase & Co. dropped their price target on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Finally, UBS Group decreased their price objective on Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th.

Insider Buying and Selling at Blackstone Mortgage Trust

In other 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 owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Katharine A. Keenan sold 2,274 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the sale, the chief executive officer now directly owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock worth $112,642 in the last three months. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Central Bank & Trust Co. acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at $42,000. GAMMA Investing LLC acquired a new stake in Blackstone Mortgage Trust during the 4th quarter worth approximately $45,000. Creekmur Asset Management LLC acquired a new stake in Blackstone Mortgage Trust in the 4th quarter valued at about $51,000. Finally, Sandy Spring Bank raised its holdings in Blackstone Mortgage Trust by 10,652.0% in the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 2,663 shares in the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock opened at $18.86 on Tuesday. The stock has a 50 day simple moving average of $19.56 and a 200-day simple moving average of $20.65. Blackstone Mortgage Trust has a 1-year low of $16.83 and a 1-year high of $23.82. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 13.38 and a beta of 1.42.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 13.15%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 175.89%.

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.