Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $20.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price target decreased by Wells Fargo & Company from $22.00 to $20.00 in a research report sent to investors on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on BXMT. BTIG Research cut their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. cut their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research report on Wednesday, April 10th. Bank of America downgraded shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and cut their price objective for the company from $22.00 to $21.00 in a research report on Monday, March 4th. UBS Group cut their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating for the company in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating for the company in a research report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $19.93.

Blackstone Mortgage Trust Trading Up 1.5 %

Shares of BXMT stock opened at $17.91 on Thursday. The firm’s 50 day moving average is $19.47 and its 200 day moving average is $20.56. The stock has a market capitalization of $3.11 billion, a P/E ratio of 597.00 and a beta of 1.42. Blackstone Mortgage Trust has a 12-month low of $16.83 and a 12-month high of $23.82.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 13.85%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.

Insider Buying and Selling

In related news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the sale, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,540 shares of company stock valued at $112,642. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of BXMT. AE Wealth Management LLC purchased a new stake in Blackstone Mortgage Trust in the 3rd quarter worth $207,000. SG Americas Securities LLC purchased a new stake in Blackstone Mortgage Trust in the 3rd quarter worth $1,255,000. State of Alaska Department of Revenue purchased a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at about $2,333,000. Handelsbanken Fonder AB raised its position in shares of Blackstone Mortgage Trust by 14.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,451 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 3,400 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in shares of Blackstone Mortgage Trust by 5.2% during the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 64.15% 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 originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.