Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) announced a quarterly dividend on Thursday, December 15th, Zacks reports. Stockholders of record on Friday, December 30th will be paid a dividend of 0.62 per share by the real estate investment trust on Friday, January 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date of this dividend is Thursday, December 29th.
Blackstone Mortgage Trust has a payout ratio of 85.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Blackstone Mortgage Trust to earn $2.78 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 89.2%.
Blackstone Mortgage Trust Price Performance
Blackstone Mortgage Trust stock opened at $22.49 on Friday. The stock’s 50 day moving average is $24.00 and its 200 day moving average is $27.05. The firm has a market cap of $3.84 billion, a P/E ratio of 9.11 and a beta of 1.25. Blackstone Mortgage Trust has a one year low of $21.49 and a one year high of $32.90.
Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) last issued its earnings results on Wednesday, October 26th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Blackstone Mortgage Trust had a return on equity of 9.33% and a net margin of 39.99%. During the same period in the prior year, the company earned $0.57 earnings per share. Equities analysts anticipate that Blackstone Mortgage Trust will post 2.52 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
BXMT has been the subject of several recent research reports. Credit Suisse Group decreased their price objective on Blackstone Mortgage Trust to $27.00 in a report on Thursday, October 13th. StockNews.com initiated coverage on Blackstone Mortgage Trust in a report on Wednesday, October 12th. They set a “hold” rating for the company. Keefe, Bruyette & Woods downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating and set a $26.00 price objective for the company. in a report on Thursday. JPMorgan Chase & Co. decreased their price target on Blackstone Mortgage Trust from $30.00 to $27.50 and set a “neutral” rating for the company in a report on Monday, October 24th. Finally, TheStreet downgraded Blackstone Mortgage Trust from a “b-” rating to a “c+” rating in a report on Tuesday, December 6th.
Insider Buying and Selling
In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,299 shares of the business’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $23.53, for a total value of $54,095.47. Following the transaction, the chief executive officer now owns 168,420 shares of the company’s stock, valued at $3,962,922.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 1,159 shares of the business’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $23.61, for a total value of $27,363.99. Following the transaction, the chief executive officer now owns 170,719 shares of the company’s stock, valued at $4,030,675.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 2,299 shares of the business’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $23.53, for a total value of $54,095.47. Following the completion of the transaction, the chief executive officer now directly owns 168,420 shares in the company, valued at approximately $3,962,922.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,747 shares of company stock worth $136,280. 1.06% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of BXMT. Covestor Ltd boosted its position in Blackstone Mortgage Trust by 153.4% in the first quarter. Covestor Ltd now owns 4,981 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 3,015 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Blackstone Mortgage Trust during the 2nd quarter valued at $179,000. Moors & Cabot Inc. purchased a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at $200,000. Ergoteles LLC purchased a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at $243,000. Finally, Mackenzie Financial Corp lifted its position in shares of Blackstone Mortgage Trust by 19.2% during the 1st quarter. Mackenzie Financial Corp now owns 9,057 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 1,457 shares during the last quarter. Hedge funds and other institutional investors own 55.28% 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 operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
Further Reading
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