BTIG Research assumed coverage on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research note released on Monday, Marketbeat reports. The firm issued a neutral rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on BXMT. Zacks Investment Research upgraded Blackstone Mortgage Trust from a hold rating to a buy rating and set a $37.00 price target for the company in a report on Tuesday, August 14th. Credit Suisse Group boosted their price target on Blackstone Mortgage Trust from $33.00 to $35.00 and gave the company an outperform rating in a report on Tuesday, August 21st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $34.50.

Shares of BXMT opened at $32.80 on Monday. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 2.62 and a beta of 0.47. Blackstone Mortgage Trust has a fifty-two week low of $29.51 and a fifty-two week high of $34.58.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.24. The company had revenue of $103.75 million during the quarter, compared to the consensus estimate of $89.07 million. Blackstone Mortgage Trust had a return on equity of 9.24% and a net margin of 49.22%. Blackstone Mortgage Trust’s revenue was up 43.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Equities research analysts anticipate that Blackstone Mortgage Trust will post 2.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.56%. Blackstone Mortgage Trust’s payout ratio is 107.36%.

In other news, Treasurer Douglas N. Armer sold 803 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $34.00, for a total transaction of $27,302.00. Following the completion of the sale, the treasurer now directly owns 62,196 shares in the company, valued at approximately $2,114,664. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 2,253 shares of company stock valued at $75,462. Insiders own 0.96% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Blackstone Group L.P. increased its holdings in shares of Blackstone Mortgage Trust by 1.3% during the 1st quarter. Blackstone Group L.P. now owns 4,923,138 shares of the real estate investment trust’s stock worth $154,685,000 after buying an additional 64,575 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Blackstone Mortgage Trust by 204.7% during the 2nd quarter. Renaissance Technologies LLC now owns 902,780 shares of the real estate investment trust’s stock worth $28,374,000 after buying an additional 606,500 shares during the last quarter. Delphi Financial Group Inc. increased its holdings in shares of Blackstone Mortgage Trust by 43.5% during the 2nd quarter. Delphi Financial Group Inc. now owns 773,226 shares of the real estate investment trust’s stock worth $24,295,000 after buying an additional 234,527 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Blackstone Mortgage Trust by 166.3% in the 2nd quarter. Acadian Asset Management LLC now owns 672,088 shares of the real estate investment trust’s stock valued at $21,125,000 after purchasing an additional 419,697 shares in the last quarter. Finally, LDR Capital Management LLC acquired a new stake in Blackstone Mortgage Trust in the 2nd quarter valued at $20,470,000. Institutional investors and hedge funds own 62.21% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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