BTIG Research Trims Blackstone Mortgage Trust (NYSE:BXMT) Target Price to $22.00

Blackstone Mortgage Trust (NYSE:BXMT) had its target price trimmed by BTIG Research from $24.00 to $22.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

BXMT has been the topic of several other research reports. Keefe, Bruyette & Woods dropped their price target on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research note on Wednesday, April 10th. Bank of America downgraded Blackstone Mortgage Trust from a buy rating to a neutral rating and decreased their price target for the stock from $22.00 to $21.00 in a report on Monday, March 4th. Finally, UBS Group dropped 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 note on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $20.83.

Blackstone Mortgage Trust Stock Performance

NYSE BXMT opened at $18.55 on Wednesday. The firm’s fifty day moving average is $19.57 and its two-hundred day moving average is $20.66. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82. The firm has a market cap of $3.22 billion, a PE ratio of 13.15 and a beta of 1.42.

Blackstone Mortgage Trust Announces Dividend

The firm 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 13.37%. The ex-dividend date was Wednesday, March 27th. Blackstone Mortgage Trust’s payout ratio is 175.89%.

Insider Buying and Selling at Blackstone Mortgage Trust

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

Institutional Trading of Blackstone Mortgage Trust

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Blackstone Mortgage Trust by 0.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 54,350 shares of the real estate investment trust’s stock worth $1,504,000 after buying an additional 389 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in Blackstone Mortgage Trust by 4.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 10,753 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 487 shares during the last quarter. Strategic Advisors LLC raised 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 worth $1,772,000 after acquiring 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 third quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 615 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Blackstone Mortgage Trust by 1.4% in the third quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock valued at $1,014,000 after purchasing an additional 630 shares during the last quarter. 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.