Blackstone Mortgage Trust (NYSE:BXMT) Reaches New 12-Month Low at $17.46

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $17.46 and last traded at $17.47, with a volume of 278683 shares changing hands. The stock had previously closed at $17.67.

Wall Street Analyst Weigh In

BXMT has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Keefe, Bruyette & Woods decreased their target price on shares of Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Bank of America downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $21.00 in a report on Monday, March 4th. Wells Fargo & Company decreased their price objective on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, UBS Group reduced their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.93.

Blackstone Mortgage Trust Stock Down 2.0 %

The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 589.17 and a beta of 1.44. The business has a fifty day simple moving average of $18.81 and a two-hundred day simple moving average of $20.24.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 14.33%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust’s payout ratio is 8,266.67%.

Insiders Place Their Bets

In other news, CEO Katharine A. Keenan sold 2,275 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,540 shares of company stock valued at $112,642. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Central Bank & Trust Co. bought a new stake in Blackstone Mortgage Trust in the fourth quarter valued at approximately $25,000. Cape Investment Advisory Inc. bought a new position in Blackstone Mortgage Trust during the fourth quarter worth $42,000. GAMMA Investing LLC acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at $45,000. Creekmur Asset Management LLC bought a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $51,000. Finally, Sandy Spring Bank boosted its holdings in shares of Blackstone Mortgage Trust by 10,652.0% during the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 2,663 shares during the period. 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.