Zacks Investment Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a sell rating to a hold rating in a research note released on Monday, Zacks.com reports.

According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “

BXMT has been the subject of a number of other reports. ValuEngine downgraded shares of Blackstone Mortgage Trust from a buy rating to a hold rating in a research note on Tuesday, February 12th. JMP Securities reissued a hold rating on shares of Blackstone Mortgage Trust in a research note on Sunday, February 17th. Finally, Deutsche Bank raised shares of Blackstone Mortgage Trust from a hold rating to a buy rating in a research note on Friday, December 21st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Blackstone Mortgage Trust currently has an average rating of Hold and an average target price of $34.63.

BXMT stock opened at $34.80 on Monday. Blackstone Mortgage Trust has a 1 year low of $30.14 and a 1 year high of $35.70. The stock has a market capitalization of $4.31 billion, a P/E ratio of 13.13, a P/E/G ratio of 2.82 and a beta of 0.57.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.07. Blackstone Mortgage Trust had a net margin of 51.44% and a return on equity of 9.58%. The company had revenue of $102.15 million during the quarter, compared to the consensus estimate of $95.88 million. During the same period in the prior year, the firm earned $0.65 earnings per share. Blackstone Mortgage Trust’s revenue was up 27.4% on a year-over-year basis. On average, analysts anticipate that Blackstone Mortgage Trust will post 2.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend was Thursday, March 28th. Blackstone Mortgage Trust’s dividend payout ratio is 93.58%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC increased its stake in shares of Blackstone Mortgage Trust by 4.0% during the first quarter. Virtu Financial LLC now owns 9,556 shares of the real estate investment trust’s stock valued at $330,000 after purchasing an additional 367 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Blackstone Mortgage Trust during the first quarter valued at approximately $99,000. Ingalls & Snyder LLC increased its stake in shares of Blackstone Mortgage Trust by 4.0% during the first quarter. Ingalls & Snyder LLC now owns 20,800 shares of the real estate investment trust’s stock valued at $719,000 after purchasing an additional 800 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in shares of Blackstone Mortgage Trust by 4.6% during the first quarter. Chartwell Investment Partners LLC now owns 168,495 shares of the real estate investment trust’s stock valued at $5,823,000 after purchasing an additional 7,380 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Blackstone Mortgage Trust during the first quarter valued at approximately $1,619,000. 61.87% of the stock is owned by institutional investors and hedge funds.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. 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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