Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $20.00

Blackstone Mortgage Trust (NYSE:BXMT) had its target price reduced by Wells Fargo & Company from $22.00 to $20.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

BXMT has been the topic of several other reports. JPMorgan Chase & Co. cut their target price on Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating on the stock in a report on Wednesday, April 10th. Bank of America lowered Blackstone Mortgage Trust from a buy rating to a neutral rating and lowered their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. BTIG Research lowered their price objective on Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating for the company in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods lowered their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating for the company in a research report on Wednesday, April 10th. Finally, UBS Group lowered their price objective on Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating for the company in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of Hold and an average price target of $19.93.

Blackstone Mortgage Trust Trading Up 1.5 %

Shares of BXMT opened at $17.91 on Thursday. The company has a market capitalization of $3.11 billion, a PE ratio of 597.00 and a beta of 1.42. Blackstone Mortgage Trust has a 12 month low of $16.83 and a 12 month high of $23.82. The stock’s 50-day moving average price is $19.47 and its two-hundred day moving average price is $20.56.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 13.85%. The ex-dividend date was Wednesday, March 27th. Blackstone Mortgage Trust’s payout ratio is 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders sold 5,540 shares of company stock valued at $112,642 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in BXMT. AE Wealth Management LLC acquired a new position in Blackstone Mortgage Trust during the 3rd quarter valued at about $207,000. SG Americas Securities LLC purchased a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $1,255,000. State of Alaska Department of Revenue purchased a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $2,333,000. Handelsbanken Fonder AB boosted its stake in shares of Blackstone Mortgage Trust by 14.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 26,451 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 3,400 shares during the last quarter. Finally, MBM Wealth Consultants LLC boosted its stake in shares of Blackstone Mortgage Trust by 5.2% in the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 615 shares during the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.