Analysts Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) PT at $21.38

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.3750.

Several research firms recently weighed in on BXMT. Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Weiss Ratings lowered Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. dropped their price target on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, UBS Group began coverage on Blackstone Mortgage Trust in a research report on Tuesday, June 2nd. They set a “buy” rating and a $21.00 price target on the stock.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 1,666 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by insiders.

Institutional Trading of Blackstone Mortgage Trust

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Blackstone Mortgage Trust by 36.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 578,444 shares of the real estate investment trust’s stock worth $10,649,000 after acquiring an additional 155,421 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new stake in Blackstone Mortgage Trust during the 3rd quarter valued at approximately $2,991,000. Bamco Inc. NY boosted its stake in Blackstone Mortgage Trust by 6.4% during the 3rd quarter. Bamco Inc. NY now owns 1,696,314 shares of the real estate investment trust’s stock valued at $31,229,000 after purchasing an additional 101,701 shares during the period. SG Americas Securities LLC boosted its stake in Blackstone Mortgage Trust by 2,836.1% during the 4th quarter. SG Americas Securities LLC now owns 214,626 shares of the real estate investment trust’s stock valued at $4,106,000 after purchasing an additional 207,316 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Blackstone Mortgage Trust by 9.0% during the 3rd quarter. Van ECK Associates Corp now owns 865,464 shares of the real estate investment trust’s stock valued at $15,933,000 after purchasing an additional 71,584 shares during the period. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Trading Down 0.1%

NYSE:BXMT opened at $18.08 on Monday. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 29.63 and a beta of 0.89. Blackstone Mortgage Trust has a 1-year low of $17.67 and a 1-year high of $20.67. The business’s fifty day moving average price is $18.79 and its 200 day moving average price is $19.19.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Blackstone Mortgage Trust’s dividend payout ratio is presently 308.20%.

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.