Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $19.93 Consensus Price Target from Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.93.

BXMT has been the topic of a number of recent research reports. UBS Group dropped their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. 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. Bank of America lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $21.00 in a report on Monday, March 4th. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, BTIG Research reduced their price target on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 17th.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $17.36 on Friday. Blackstone Mortgage Trust has a fifty-two week low of $16.91 and a fifty-two week high of $23.82. The company has a market capitalization of $3.01 billion, a PE ratio of 578.50 and a beta of 1.44. The company has a 50 day moving average price of $18.70 and a 200-day moving average price of $20.19.

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 given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 14.29%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust’s payout ratio is currently 8,266.67%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Blackstone Mortgage Trust

Large investors have recently made changes to their positions in the company. Central Bank & Trust Co. acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at $42,000. GAMMA Investing LLC acquired a new position in Blackstone Mortgage Trust during the fourth quarter worth $45,000. Creekmur Asset Management LLC acquired a new position in Blackstone Mortgage Trust during the fourth quarter worth $51,000. Finally, Sandy Spring Bank raised its position in 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. 64.15% of the stock is currently owned by institutional investors and hedge funds.

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.