Blackstone Mortgage Trust (NYSE:BXMT) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective lowered by Keefe, Bruyette & Woods from $16.00 to $13.00 in a report published on Friday,Benzinga reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

BXMT has been the subject of a number of other reports. Citigroup restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th. Zacks Research raised Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. JPMorgan Chase & Co. reduced their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wells Fargo & Company reduced their price target on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Finally, Raymond James Financial lowered shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.60.

Blackstone Mortgage Trust Price Performance

BXMT stock opened at $11.04 on Friday. The business has a fifty day moving average price of $13.35 and a 200 day moving average price of $16.49. Blackstone Mortgage Trust has a fifty-two week low of $10.78 and a fifty-two week high of $20.67. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 122.61, a P/E/G ratio of 0.26 and a beta of 0.92.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10). The business had revenue of $158.06 million during the quarter, compared to the consensus estimate of $157.32 million. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. On average, equities analysts expect that Blackstone Mortgage Trust will post 0.90 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 17.0%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 2,088.89%.

Insiders Place Their Bets

In related news, Director Henry Nassau acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $14.34 per share, for a total transaction of $143,400.00. Following the transaction, the director directly owned 218,523 shares of the company’s stock, valued at approximately $3,133,619.82. This trade represents a 4.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 3,716 shares of company stock valued at $46,815. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division raised its position in shares of Blackstone Mortgage Trust by 50.0% during the third quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Blackstone Mortgage Trust by 6.0% during the first quarter. Whipplewood Advisors LLC now owns 20,551 shares of the real estate investment trust’s stock valued at $394,000 after acquiring an additional 1,158 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Blackstone Mortgage Trust by 3.5% during the second quarter. Sequoia Financial Advisors LLC now owns 46,722 shares of the real estate investment trust’s stock valued at $792,000 after acquiring an additional 1,579 shares during the period. Tidal Investments LLC lifted its stake in shares of Blackstone Mortgage Trust by 5.6% during the second quarter. Tidal Investments LLC now owns 29,607 shares of the real estate investment trust’s stock valued at $502,000 after acquiring an additional 1,583 shares during the period. Finally, Arkadios Wealth Advisors lifted its stake in shares of Blackstone Mortgage Trust by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 14,874 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 1,833 shares during the period. 64.15% of the stock is currently owned by institutional investors.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a real estate finance company organized as a real estate investment trust. The company originates and holds senior loans secured by commercial properties, with a focus on institutional-quality assets and experienced real estate sponsors.

Its portfolio primarily consists of floating-rate mortgage loans used to finance acquisitions, refinancings, development and other capital needs for commercial real estate. The properties securing its loans may include office buildings, multifamily communities, hotels, industrial facilities, retail centers and other commercial assets.

Blackstone Mortgage Trust is externally managed by BXMT Advisors L.P., an affiliate of Blackstone.