Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $20.58 Consensus Target Price from Analysts

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have earned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.10.

A number of research analysts have weighed in on BXMT shares. UBS Group boosted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating for the company in a research note on Wednesday, April 16th.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $19.13, for a total transaction of $132,590.03. Following the completion of the transaction, the chief executive officer directly owned 236,914 shares of the company’s stock, valued at approximately $4,532,164.82. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $19.20, for a total transaction of $29,126.40. Following the completion of the sale, the chief financial officer directly owned 64,082 shares in the company, valued at approximately $1,230,374.40. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,248 shares of company stock valued at $177,028 in the last three months. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Blackstone Mortgage Trust during the 2nd quarter worth approximately $96,000. Janney Montgomery Scott LLC grew its stake in shares of Blackstone Mortgage Trust by 9.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,147 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 2,038 shares during the period. Tritonpoint Wealth LLC acquired a new stake in shares of Blackstone Mortgage Trust during the 2nd quarter worth approximately $197,000. State of Alaska Department of Revenue grew its stake in Blackstone Mortgage Trust by 5.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 100,693 shares of the real estate investment trust’s stock valued at $1,937,000 after acquiring an additional 5,614 shares during the period. Finally, True North Advisors LLC grew its stake in Blackstone Mortgage Trust by 25.9% in the 2nd quarter. True North Advisors LLC now owns 30,847 shares of the real estate investment trust’s stock valued at $594,000 after acquiring an additional 6,338 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Performance

Shares of Blackstone Mortgage Trust stock opened at $19.23 on Thursday. Blackstone Mortgage Trust has a 52-week low of $16.51 and a 52-week high of $21.24. The company has a fifty day moving average of $19.36 and a 200-day moving average of $19.16. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -41.80 and a beta of 1.10.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 9.78%. The ex-dividend date was Monday, June 30th. Blackstone Mortgage Trust’s payout ratio is currently -408.70%.

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.