Blackstone Mortgage Trust (NYSE:BXMT) Sets New 52-Week Low – Here’s Why

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) hit a new 52-week low on Wednesday . The stock traded as low as $17.62 and last traded at $17.3760, with a volume of 1702514 shares traded. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BXMT shares. Weiss Ratings lowered Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. UBS Group began coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They set a “buy” rating and a $21.00 price target on the stock. Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.38.

Blackstone Mortgage Trust Trading Down 3.9%

The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 28.76 and a beta of 0.89. The firm has a 50-day moving average of $18.73 and a 200-day moving average of $19.17.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.8%. Blackstone Mortgage Trust’s dividend payout ratio is currently 308.20%.

Insider Activity

In other news, President Fernando Austin Pena sold 1,666 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total value of $31,454.08. Following the completion of the transaction, the president directly owned 76,967 shares in the company, valued at $1,453,136.96. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of BXMT. Jones Financial Companies Lllp raised its position in Blackstone Mortgage Trust by 45.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 536 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter worth $41,000. Ascentis Independent Advisors purchased a new position in shares of Blackstone Mortgage Trust during the first quarter worth $41,000. UMB Bank n.a. lifted its position in Blackstone Mortgage Trust by 151.1% during the fourth quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,307 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Blackstone Mortgage Trust in the third quarter valued at $46,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.