Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Stock Has Consensus Price Target of $18.60 According to Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.60.

A number of research analysts have commented on BXMT shares. JPMorgan Chase & Co. decreased their price objective on 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. Citigroup restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, August 25th. Wells Fargo & Company dropped their target price on Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Zacks Research raised Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen cut Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st.

Blackstone Mortgage Trust Trading Up 3.8%

Shares of BXMT stock opened at $10.59 on Friday. Blackstone Mortgage Trust has a 1 year low of $10.11 and a 1 year high of $20.67. The firm’s 50 day moving average is $12.68 and its 200-day moving average is $15.96. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 6.50, a PEG ratio of 0.24 and a beta of 0.92.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.10). Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. The company had revenue of $158.06 million during the quarter, compared to analyst estimates of $157.32 million. On average, equities research analysts forecast that Blackstone Mortgage Trust will post 0.91 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 17.8%. The ex-dividend date of this dividend was Wednesday, September 30th. Blackstone Mortgage Trust’s payout ratio is currently 2,088.89%.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, Director Henry Nassau bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the transaction, the director owned 218,523 shares in the company, valued at approximately $3,133,619.82. This trade represents a 4.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 3,716 shares of company stock worth $46,815. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in Blackstone Mortgage Trust in the second quarter valued at approximately $18,109,000. Dupree Financial Group LLC boosted its stake in Blackstone Mortgage Trust by 85.1% in the third quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust’s stock valued at $6,834,000 after acquiring an additional 274,361 shares during the last quarter. First Trust Advisors LP boosted its stake in Blackstone Mortgage Trust by 758.3% in the first quarter. First Trust Advisors LP now owns 185,148 shares of the real estate investment trust’s stock valued at $3,546,000 after acquiring an additional 163,577 shares during the last quarter. Bank of America Corp DE boosted its stake in Blackstone Mortgage Trust by 21.9% in the first quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust’s stock valued at $24,839,000 after acquiring an additional 233,357 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Blackstone Mortgage Trust by 75.7% during the 1st quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust’s stock worth $4,575,000 after acquiring an additional 102,904 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.