Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $20.83 Average Target Price from Analysts

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.29.

BXMT has been the subject of a number of research reports. UBS Group reduced their price target on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company cut their price target on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. BTIG Research cut their price target on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, Bank of America cut shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $21.00 in a report on Monday, March 4th.

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock valued at $112,642 over the last quarter. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Hedge funds have recently bought and sold shares of the company. Central Bank & Trust Co. purchased a new position in Blackstone Mortgage Trust during the fourth quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $42,000. GAMMA Investing LLC purchased a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $45,000. Creekmur Asset Management LLC purchased a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $51,000. Finally, Sandy Spring Bank grew its stake in Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 2,663 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT opened at $17.65 on Tuesday. The firm has a 50 day simple moving average of $19.51 and a 200 day simple moving average of $20.60. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 12.52 and a beta of 1.42. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 14.05%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio is 175.89%.

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.