Blackstone Mortgage Trust (NYSE:BXMT) CEO Timothy Steven Johnson Purchases 90,000 Shares of Company Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CEO Timothy Johnson acquired 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average cost of $11.50 per share, for a total transaction of $1,035,000.00. Following the acquisition, the chief executive officer owned 617,900 shares of the company’s stock, valued at $7,105,850. The trade was a 17.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Blackstone Mortgage Trust Trading Down 1.6%

Shares of BXMT stock opened at $11.44 on Friday. Blackstone Mortgage Trust, Inc. has a 12 month low of $10.11 and a 12 month high of $20.67. The stock has a market cap of $1.90 billion, a P/E ratio of -5.13, a P/E/G ratio of 0.49 and a beta of 0.90. The company has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $16.55.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. The company had revenue of $141.90 million for the quarter, compared to analysts’ expectations of $148.60 million. Blackstone Mortgage Trust had a positive return on equity of 9.17% and a negative net margin of 48.18%. As a group, equities analysts forecast that Blackstone Mortgage Trust, Inc. will post 0.50 earnings per share for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a $0.30 dividend. The ex-dividend date is Thursday, December 31st. This is a negative change from Blackstone Mortgage Trust’s previous quarterly dividend of $0.47. This represents a $1.20 dividend on an annualized basis and a yield of 10.5%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently -84.30%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BXMT. Bank of America Corp DE increased its holdings in Blackstone Mortgage Trust by 21.9% in the 1st quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust’s stock valued at $24,839,000 after acquiring an additional 233,357 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Blackstone Mortgage Trust in the 2nd quarter worth $18,109,000. Principal Financial Group Inc. lifted its stake in Blackstone Mortgage Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 770,901 shares of the real estate investment trust’s stock worth $14,763,000 after purchasing an additional 19,423 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in Blackstone Mortgage Trust by 0.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 483,624 shares of the real estate investment trust’s stock worth $9,261,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Dupree Financial Group LLC boosted its holdings in shares of Blackstone Mortgage Trust by 85.1% during the 3rd quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust’s stock valued at $6,834,000 after purchasing an additional 274,361 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BXMT. Keefe, Bruyette & Woods lowered their price objective on Blackstone Mortgage Trust from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Friday, October 30th. Wall Street Zen lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Citigroup reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, August 25th. Raymond James Financial cut shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Finally, UBS Group lowered their price target on shares of Blackstone Mortgage Trust from $21.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.00.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.