Blackstone Mortgage Trust (NYSE:BXMT) Stock: Insider Timothy Steven Johnson Buys 90,000 Shares

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CEO Timothy Johnson acquired 90,000 shares of Blackstone Mortgage Trust stock in a transaction on Wednesday, November 4th. The stock was purchased at an average cost of $11.50 per share, for a total transaction of $1,035,000.00. Following the purchase, the chief executive officer owned 617,900 shares in the company, valued at approximately $7,105,850. The trade was a 17.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT traded down $0.19 during mid-day trading on Thursday, hitting $11.44. 3,348,394 shares of the stock were exchanged, compared to its average volume of 2,012,371. The company has a market cap of $1.90 billion, a PE ratio of -5.13, a price-to-earnings-growth ratio of 0.26 and a beta of 0.90. Blackstone Mortgage Trust, Inc. has a 52-week low of $10.11 and a 52-week high of $20.67. The firm has a 50-day moving average of $12.08 and a two-hundred day moving average of $16.59.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.14. Blackstone Mortgage Trust had a negative net margin of 48.18% and a positive return on equity of 9.17%. The firm had revenue of $141.90 million during the quarter, compared to analyst estimates of $148.60 million. On average, sell-side analysts predict that Blackstone Mortgage Trust, Inc. will post 0.91 EPS for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.30 dividend. This is a decrease from Blackstone Mortgage Trust’s previous quarterly dividend of $0.47. This represents a $1.20 annualized dividend and a yield of 10.5%. The ex-dividend date is Thursday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is -84.30%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Northside Capital Management LLC bought a new stake in shares of Blackstone Mortgage Trust in the second quarter valued at about $28,000. Central Pacific Bank Trust Division raised its stake in shares of Blackstone Mortgage Trust by 50.0% during the 3rd 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Blackstone Mortgage Trust during the second quarter valued at approximately $39,000. Ascentis Independent Advisors acquired a new stake in Blackstone Mortgage Trust in the first quarter valued at approximately $41,000. Finally, Covestor Ltd boosted its stake in Blackstone Mortgage Trust by 2,167.3% in the third quarter. Covestor Ltd now owns 5,056 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 4,833 shares in the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BXMT has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Zacks Research raised Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen lowered Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. decreased their price target on Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods lowered their price target on Blackstone Mortgage Trust from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Friday, October 30th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.00.

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.