Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report) have been given an average recommendation of “Hold” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.93.
BXMT has been the subject of several research analyst reports. BTIG Research decreased their price objective on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. Wolfe Research assumed coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company lowered their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, April 25th.
View Our Latest Report on Blackstone Mortgage Trust
Blackstone Mortgage Trust Stock Up 0.1 %
Shares of NYSE BXMT opened at $17.29 on Friday. Blackstone Mortgage Trust has a twelve month low of $16.70 and a twelve month high of $23.82. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 576.33 and a beta of 1.49. The company’s fifty day moving average is $17.67 and its 200-day moving average is $19.22.
Blackstone Mortgage Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 14.34%. The ex-dividend date is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.
Insider Transactions at Blackstone Mortgage Trust
In related news, CEO Katharine A. Keenan sold 2,259 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total transaction of $38,493.36. Following the transaction, the chief executive officer now directly owns 189,764 shares in the company, valued at $3,233,578.56. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Katharine A. Keenan sold 4,508 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the sale, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katharine A. Keenan sold 2,259 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $17.04, for a total value of $38,493.36. Following the transaction, the chief executive officer now owns 189,764 shares of the company’s stock, valued at $3,233,578.56. The disclosure for this sale can be found here. Insiders have sold a total of 11,057 shares of company stock worth $191,141 in the last 90 days. Corporate insiders own 0.93% of the company’s stock.
Institutional Investors Weigh In On Blackstone Mortgage Trust
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Blackstone Mortgage Trust by 15.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after buying an additional 2,470,412 shares during the last quarter. Blackstone Inc. increased its stake in shares of Blackstone Mortgage Trust by 9.5% during the fourth quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust’s stock worth $169,074,000 after purchasing an additional 686,881 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Blackstone Mortgage Trust by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,531,729 shares of the real estate investment trust’s stock worth $53,850,000 after purchasing an additional 106,670 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Blackstone Mortgage Trust by 45.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,141,173 shares of the real estate investment trust’s stock valued at $46,578,000 after purchasing an additional 669,172 shares during the period. Finally, Norges Bank acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at $38,747,000. Institutional investors and hedge funds 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.
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