Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Given Average Recommendation of “Hold” by Brokerages
Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) has received an average recommendation of “Hold” from the four research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.80.
A number of equities research analysts have recently issued reports on BXMT shares. BTIG Research initiated coverage on Blackstone Mortgage Trust in a report on Tuesday, April 25th. They set a “buy” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on shares of Blackstone Mortgage Trust from $25.00 to $18.00 and set a “market perform” rating on the stock in a research report on Thursday, April 13th. StockNews.com assumed coverage on shares of Blackstone Mortgage Trust in a research report on Thursday, May 18th. They set a “hold” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Blackstone Mortgage Trust from $23.00 to $18.00 in a report on Monday, April 24th. Finally, Citigroup lowered their target price on shares of Blackstone Mortgage Trust from $24.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, April 6th.
Blackstone Mortgage Trust Stock Up 2.7 %
BXMT opened at $21.04 on Monday. The company has a fifty day simple moving average of $18.92 and a 200 day simple moving average of $20.02. The stock has a market cap of $3.62 billion, a P/E ratio of 13.84 and a beta of 1.36. Blackstone Mortgage Trust has a 12 month low of $16.60 and a 12 month high of $31.46.
Blackstone Mortgage Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, June 29th. This represents a $2.48 dividend on an annualized basis and a yield of 11.79%. Blackstone Mortgage Trust’s dividend payout ratio is currently 163.16%.
Insider Transactions at Blackstone Mortgage Trust
In other news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $19.79, for a total value of $45,022.25. Following the sale, the chief executive officer now owns 155,993 shares of the company’s stock, valued at $3,087,101.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Katharine A. Keenan sold 2,275 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $19.79, for a total value of $45,022.25. Following the completion of the sale, the chief executive officer now owns 155,993 shares of the company’s stock, valued at approximately $3,087,101.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael B. Nash purchased 50,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $17.22 per share, for a total transaction of $861,000.00. Following the purchase, the director now directly owns 518,455 shares in the company, valued at approximately $8,927,795.10. The disclosure for this purchase can be found here. Insiders sold a total of 9,880 shares of company stock valued at $186,367 over the last three months. Corporate insiders own 1.02% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of BXMT. Allworth Financial LP purchased a new stake in Blackstone Mortgage Trust in the 1st quarter worth $26,000. GPS Wealth Strategies Group LLC acquired a new stake in Blackstone Mortgage Trust in the 1st quarter worth about $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Blackstone Mortgage Trust by 4,842.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,598 shares during the last quarter. Chilton Capital Management LLC purchased a new position in shares of Blackstone Mortgage Trust in the first quarter valued at approximately $36,000. Finally, OLD Mission Capital LLC acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 53.63% 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, together with its subsidiaries, originates and acquires commercial mortgage loans and related investments. It operates as a real estate investment trust for federal income tax purposes.
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