Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $20.00 Consensus PT from Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.00.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Blackstone Mortgage Trust from $18.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods raised shares of Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $21.00 in a research report on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday.

Blackstone Mortgage Trust Stock Up 0.1%

Shares of NYSE:BXMT opened at $19.47 on Friday. The firm has a fifty day moving average of $18.52 and a two-hundred day moving average of $19.04. Blackstone Mortgage Trust has a 12-month low of $16.51 and a 12-month high of $21.24. The firm has a market capitalization of $3.27 billion, a P/E ratio of 31.40 and a beta of 1.16.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $132.71 million for the quarter, compared to the consensus estimate of $103.56 million. Blackstone Mortgage Trust had a net margin of 7.53% and a return on equity of 4.06%. Equities research analysts expect that Blackstone Mortgage Trust will post 1.65 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.47 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 9.7%. Blackstone Mortgage Trust’s dividend payout ratio is currently 303.23%.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $19.49, for a total transaction of $89,517.57. Following the transaction, the chief executive officer directly owned 230,006 shares in the company, valued at $4,482,816.94. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,818 shares of company stock worth $171,190 in the last 90 days. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BXMT. Envestnet Asset Management Inc. grew its holdings in Blackstone Mortgage Trust by 32.7% during the first quarter. Envestnet Asset Management Inc. now owns 58,076 shares of the real estate investment trust’s stock valued at $1,162,000 after purchasing an additional 14,311 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Blackstone Mortgage Trust in the first quarter worth $258,000. Cetera Investment Advisers boosted its holdings in shares of Blackstone Mortgage Trust by 19.1% during the 1st quarter. Cetera Investment Advisers now owns 147,753 shares of the real estate investment trust’s stock worth $2,955,000 after buying an additional 23,716 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Blackstone Mortgage Trust by 6.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,161 shares of the real estate investment trust’s stock valued at $823,000 after buying an additional 2,639 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in Blackstone Mortgage Trust by 300.5% in the 1st quarter. XTX Topco Ltd now owns 115,602 shares of the real estate investment trust’s stock worth $2,312,000 after acquiring an additional 86,736 shares during the period. 64.15% of the stock is owned by institutional investors.

Blackstone Mortgage Trust Company Profile

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.