Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $21.13 Average Price Target from Analysts

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.1250.

BXMT has been the subject of a number of recent analyst reports. Zacks Research cut shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods increased their price target on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Weiss Ratings cut shares of Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock opened at $18.58 on Thursday. The stock has a market cap of $3.13 billion, a P/E ratio of 30.47 and a beta of 0.92. The company has a fifty day moving average price of $19.01 and a two-hundred day moving average price of $19.26. Blackstone Mortgage Trust has a one year low of $17.67 and a one year high of $20.67.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 10.1%. Blackstone Mortgage Trust’s dividend payout ratio is presently 308.20%.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 1,666 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total value of $31,454.08. Following the transaction, the president directly owned 76,967 shares of the company’s stock, valued at $1,453,136.96. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several large investors have recently modified their holdings of BXMT. Jones Financial Companies Lllp raised its position in shares of Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 536 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Blackstone Mortgage Trust by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 570,233 shares of the real estate investment trust’s stock valued at $11,405,000 after purchasing an additional 37,838 shares during the period. Intech Investment Management LLC raised its position in shares of Blackstone Mortgage Trust by 5.0% in the first quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust’s stock valued at $1,474,000 after purchasing an additional 3,478 shares during the period. Invesco Ltd. raised its position in shares of Blackstone Mortgage Trust by 28.1% in the second quarter. Invesco Ltd. now owns 630,752 shares of the real estate investment trust’s stock valued at $12,142,000 after purchasing an additional 138,469 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Blackstone Mortgage Trust in the second quarter valued at about $226,000. 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.