Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $19.63 Consensus Price Target from Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $19.75.

BXMT has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Blackstone Mortgage Trust from $18.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group lifted their target price on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Blackstone Mortgage Trust in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $19.49, for a total value of $89,517.57. Following the completion of the transaction, the chief executive officer owned 230,006 shares in the company, valued at approximately $4,482,816.94. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 8,818 shares of company stock worth $171,190 in the last ninety days. 1.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Blackstone Mortgage Trust by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,598,933 shares of the real estate investment trust’s stock valued at $51,979,000 after acquiring an additional 63,953 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Blackstone Mortgage Trust in the 2nd quarter worth about $35,101,000. Norges Bank bought a new stake in Blackstone Mortgage Trust in the 2nd quarter worth about $34,608,000. Bamco Inc. NY increased its holdings in Blackstone Mortgage Trust by 1,498.1% in the 2nd quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust’s stock worth $30,696,000 after buying an additional 1,494,830 shares in the last quarter. Finally, Advisors Capital Management LLC increased its holdings in Blackstone Mortgage Trust by 4.4% in the 2nd quarter. Advisors Capital Management LLC now owns 1,078,886 shares of the real estate investment trust’s stock worth $20,769,000 after buying an additional 45,871 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

Blackstone Mortgage Trust Trading Down 1.6%

NYSE:BXMT opened at $18.48 on Tuesday. The stock has a market cap of $3.17 billion, a P/E ratio of 29.80 and a beta of 1.15. The stock’s 50-day moving average is $18.90 and its 200-day moving average is $19.05. Blackstone Mortgage Trust has a 1-year low of $16.51 and a 1-year high of $21.24.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date was Tuesday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio is currently -2,685.71%.

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.