Blackstone Mortgage Trust’s (BXMT) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research restated their buy rating on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research report report published on Tuesday,Benzinga reports. BTIG Research currently has a $23.00 price target on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Blackstone Mortgage Trust from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised shares of Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $21.00 in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.00.

Blackstone Mortgage Trust Price Performance

BXMT opened at $19.62 on Tuesday. The business has a fifty day simple moving average of $19.63 and a 200 day simple moving average of $19.13. The company has a market capitalization of $3.29 billion, a PE ratio of 31.65 and a beta of 1.07. 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Wednesday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 303.23%.

Insider Activity at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 3,131 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $19.24, for a total transaction of $60,240.44. Following the completion of the sale, the president owned 78,633 shares of the company’s stock, valued at approximately $1,512,898.92. This represents a 3.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 5,049 shares of company stock valued at $98,716. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in Blackstone Mortgage Trust during the 3rd quarter worth approximately $25,000. Jones Financial Companies Lllp grew its stake in shares of Blackstone Mortgage Trust by 45.5% during the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 536 shares during the last quarter. North Capital Inc. acquired a new position in shares of Blackstone Mortgage Trust during the third quarter worth $37,000. ORG Partners LLC bought a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at $41,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at $46,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.