Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Given Average Recommendation of “Moderate Buy” by Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.1250.

Several brokerages have commented on BXMT. Keefe, Bruyette & Woods upped their price target on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Zacks Research cut shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. BTIG Research reissued a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone Mortgage Trust in a research report on Monday, May 11th.

Insider Activity

In other news, President Fernando Austin Pena sold 1,666 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total transaction of $31,454.08. Following the transaction, the president directly owned 76,967 shares of the company’s stock, valued at approximately $1,453,136.96. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. Bank of America Corp DE boosted its position 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 buying an additional 233,357 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of Blackstone Mortgage Trust by 75.7% in the first quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust’s stock worth $4,575,000 after acquiring an additional 102,904 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Blackstone Mortgage Trust by 14.1% in the first quarter. Arkadios Wealth Advisors now owns 14,874 shares of the real estate investment trust’s stock worth $285,000 after acquiring an additional 1,833 shares in the last quarter. Amundi boosted its holdings in Blackstone Mortgage Trust by 30.1% in the first quarter. Amundi now owns 33,705 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 7,804 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Blackstone Mortgage Trust by 26.6% during the 1st quarter. California State Teachers Retirement System now owns 197,825 shares of the real estate investment trust’s stock valued at $3,788,000 after purchasing an additional 41,609 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Up 1.0%

Shares of NYSE BXMT opened at $17.98 on Thursday. The stock has a market capitalization of $3.03 billion, a PE ratio of 29.47 and a beta of 0.92. The firm has a fifty day moving average of $19.08 and a 200-day moving average of $19.27. Blackstone Mortgage Trust has a 52-week low of $17.67 and a 52-week high of $20.67.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.88 annualized dividend and a yield of 10.5%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 308.20%.

Blackstone Mortgage Trust Company Profile

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.