JPMorgan Chase & Co. Trims Blackstone Mortgage Trust (NYSE:BXMT) Target Price to $17.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by JPMorgan Chase & Co. from $18.50 to $17.50 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.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods decreased their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating for the company in a research report on Wednesday, April 10th. 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 research note on Thursday. Wells Fargo & Company cut their price target on 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 cut their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Finally, Bank of America downgraded Blackstone Mortgage Trust from a buy rating to a neutral rating and cut their price target for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $19.93.

Blackstone Mortgage Trust Price Performance

Shares of Blackstone Mortgage Trust stock opened at $17.91 on Thursday. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 597.00 and a beta of 1.42. The business has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $20.56.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently announced 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 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 payout ratio is presently 8,266.67%.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 value of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Insiders have sold 5,540 shares of company stock worth $112,642 in the last 90 days. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently modified their holdings of BXMT. AE Wealth Management LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $207,000. SG Americas Securities LLC bought a new stake in Blackstone Mortgage Trust during the 3rd quarter valued at $1,255,000. State of Alaska Department of Revenue bought a new stake in Blackstone Mortgage Trust during the 3rd quarter valued at $2,333,000. Handelsbanken Fonder AB raised its holdings in Blackstone Mortgage Trust by 14.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,451 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 3,400 shares during the period. Finally, MBM Wealth Consultants LLC raised its holdings in Blackstone Mortgage Trust by 5.2% during the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 615 shares during the period. Institutional investors own 64.15% of the company’s stock.

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.