Blackstone Mortgage Trust (NYSE:BXMT) Director Henry Nassau Acquires 10,000 Shares of Company Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Director Henry Nassau acquired 10,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the transaction, the director directly owned 233,490 shares in the company, valued at approximately $2,668,790.70. This represents a 4.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT opened at $11.44 on Friday. The business’s 50-day moving average is $12.03 and its 200 day moving average is $16.55. Blackstone Mortgage Trust, Inc. has a 1 year low of $10.11 and a 1 year high of $20.67. The firm has a market capitalization of $1.90 billion, a P/E ratio of -5.13, a P/E/G ratio of 0.49 and a beta of 0.90.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.14. Blackstone Mortgage Trust had a positive return on equity of 9.17% and a negative net margin of 48.18%. The business had revenue of $141.90 million during the quarter, compared to the consensus estimate of $148.60 million. On average, analysts expect that Blackstone Mortgage Trust, Inc. will post 0.50 EPS for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.30 dividend. This is a drop from Blackstone Mortgage Trust’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 10.5%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is -84.30%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Blackstone Mortgage Trust during the second quarter worth about $18,109,000. Dupree Financial Group LLC raised its position in Blackstone Mortgage Trust by 85.1% during the third quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust’s stock valued at $6,834,000 after acquiring an additional 274,361 shares in the last quarter. Independent Financial Group LLC acquired a new position in Blackstone Mortgage Trust in the first quarter valued at approximately $4,845,000. Bank of America Corp DE lifted its holdings in Blackstone Mortgage Trust by 21.9% in the first quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust’s stock valued at $24,839,000 after acquiring an additional 233,357 shares during the period. Finally, GraniteShares Advisors LLC acquired a new position in Blackstone Mortgage Trust in the third quarter valued at approximately $2,433,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Zacks Research raised shares of Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Raymond James Financial cut shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Wells Fargo & Company lowered their price objective on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, UBS Group cut their target price on Blackstone Mortgage Trust from $21.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.00.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.