Blackstone Mortgage Trust (NYSE:BXMT) Shares Gap Down to $19.13

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) gapped down prior to trading on Wednesday . The stock had previously closed at $19.13, but opened at $18.00. Blackstone Mortgage Trust shares last traded at $17.99, with a volume of 1,246,153 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. BTIG Research lowered their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. UBS Group lowered their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $20.83.

Blackstone Mortgage Trust Price Performance

The stock has a market cap of $3.16 billion, a PE ratio of 12.80 and a beta of 1.42. The firm’s 50 day moving average price is $19.58 and its two-hundred day moving average price is $20.63.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 annualized dividend and a yield of 13.63%. Blackstone Mortgage Trust’s dividend payout ratio is currently 175.89%.

Insider Activity at Blackstone Mortgage Trust

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. 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 Blackstone Mortgage Trust 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 sale, the chief executive officer now owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,540 shares of company stock valued at $112,642. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of the stock. Strategic Advisors LLC lifted its position in Blackstone Mortgage Trust by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock valued at $1,772,000 after purchasing an additional 500 shares during the last quarter. MBM Wealth Consultants LLC lifted its holdings in shares of Blackstone Mortgage Trust by 5.2% in the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 615 shares during the last quarter. Arizona State Retirement System raised its holdings in Blackstone Mortgage Trust by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock valued at $1,014,000 after buying an additional 630 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Blackstone Mortgage Trust by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 13,000 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 700 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in Blackstone Mortgage Trust by 7.0% during the 4th quarter. Brown Advisory Inc. now owns 11,136 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 727 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors.

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.