Blackstone Mortgage Trust (NYSE:BXMT) Sets New 1-Year Low – Time to Sell?

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) hit a new 52-week low on Thursday . The company traded as low as $16.87 and last traded at $16.9250, with a volume of 484053 shares traded. The stock had previously closed at $17.03.

Wall Street Analyst Weigh In

Several equities analysts have commented on BXMT shares. Weiss Ratings downgraded Blackstone Mortgage Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. reduced their price target on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Zacks Research downgraded Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. UBS Group began coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set an “outperform” rating for the company in a report on Friday, June 26th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Blackstone Mortgage Trust Stock Up 1.1%

The company has a market cap of $2.88 billion, a price-to-earnings ratio of 27.97 and a beta of 0.90. The firm has a 50 day moving average price of $18.03 and a two-hundred day moving average price of $18.91.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Blackstone Mortgage Trust’s dividend payout ratio is currently 308.20%.

Insider Transactions at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 2,398 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $17.48, for a total transaction of $41,917.04. Following the completion of the transaction, the president owned 74,569 shares in the company, valued at approximately $1,303,466.12. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 5,420 shares of company stock worth $95,233. 1.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Institutional investors have recently modified their holdings of the company. Bamco Inc. NY boosted its position in shares of Blackstone Mortgage Trust by 6.4% during the 3rd quarter. Bamco Inc. NY now owns 1,696,314 shares of the real estate investment trust’s stock valued at $31,229,000 after purchasing an additional 101,701 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Blackstone Mortgage Trust by 36.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 578,444 shares of the real estate investment trust’s stock valued at $10,649,000 after acquiring an additional 155,421 shares during the period. SG Americas Securities LLC grew its holdings in Blackstone Mortgage Trust by 2,836.1% in the fourth quarter. SG Americas Securities LLC now owns 214,626 shares of the real estate investment trust’s stock worth $4,106,000 after purchasing an additional 207,316 shares during the period. Van ECK Associates Corp increased its stake in Blackstone Mortgage Trust by 9.0% in the third quarter. Van ECK Associates Corp now owns 865,464 shares of the real estate investment trust’s stock valued at $15,933,000 after purchasing an additional 71,584 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its stake in Blackstone Mortgage Trust by 103.3% in the fourth quarter. Apollon Wealth Management LLC now owns 86,573 shares of the real estate investment trust’s stock valued at $1,656,000 after purchasing an additional 43,996 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

About Blackstone Mortgage Trust

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.