Blackstone Mortgage Trust (NYSE:BXMT) PT Lowered to $19.00

Blackstone Mortgage Trust (NYSE:BXMT) had its target price decreased by UBS Group from $21.00 to $19.00 in a research report released on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

BXMT has been the topic of several other research reports. Bank of America downgraded shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and dropped their target price for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. BTIG Research lowered their price target 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. Wells Fargo & Company cut their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an overweight rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods dropped their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating on the stock in a research report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone Mortgage Trust currently has a consensus rating of Hold and a consensus price target of $19.93.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $17.91 on Thursday. The stock has a market cap of $3.11 billion, a PE ratio of 597.00 and a beta of 1.42. The stock has a 50-day moving average of $19.47 and a two-hundred day moving average of $20.56. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82.

Blackstone Mortgage Trust Dividend Announcement

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

Insider Transactions at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the sale, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Insiders have sold 5,540 shares of company stock valued at $112,642 in the last 90 days. 1.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Central Bank & Trust Co. purchased a new stake in Blackstone Mortgage Trust during the 4th quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $42,000. GAMMA Investing LLC acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at $45,000. Creekmur Asset Management LLC purchased a new position in Blackstone Mortgage Trust in the 4th quarter valued at $51,000. Finally, Sandy Spring Bank boosted its stake in Blackstone Mortgage Trust by 10,652.0% during the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 2,663 shares during the last quarter. 64.15% of the stock is owned by hedge funds and other institutional investors.

About Blackstone Mortgage Trust

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.