Blackstone Mortgage Trust (NYSE:BXMT) Upgraded at Zacks Research

Zacks Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

BXMT has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone Mortgage Trust from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research report on Monday, December 29th. Finally, BTIG Research reissued a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.13.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT stock opened at $19.18 on Tuesday. Blackstone Mortgage Trust has a 52 week low of $16.51 and a 52 week high of $20.67. The stock has a market capitalization of $3.24 billion, a PE ratio of 29.50 and a beta of 1.06. The stock’s fifty day moving average is $19.30 and its 200-day moving average is $19.15.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Blackstone Mortgage Trust’s dividend payout ratio is 289.23%.

Insider Transactions at Blackstone Mortgage Trust

In related news, President Fernando Austin Pena sold 3,131 shares of Blackstone Mortgage Trust stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $19.24, for a total value of $60,240.44. Following the completion of the sale, the president directly owned 78,633 shares in the company, valued at $1,512,898.92. This trade represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $38,239,000. Bamco Inc. NY lifted its holdings in Blackstone Mortgage Trust by 1,498.1% in the second quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust’s stock valued at $30,696,000 after buying an additional 1,494,830 shares during the period. UBS Group AG boosted its stake in Blackstone Mortgage Trust by 24.4% in the third quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust’s stock valued at $56,740,000 after acquiring an additional 603,588 shares during the last quarter. Invesco Ltd. boosted its stake in Blackstone Mortgage Trust by 70.8% in the third quarter. Invesco Ltd. now owns 1,077,590 shares of the real estate investment trust’s stock valued at $19,838,000 after acquiring an additional 446,838 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Blackstone Mortgage Trust during the 4th quarter worth $7,733,000. 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.