Wolfe Research Begins Coverage on Blackstone Mortgage Trust (NYSE:BXMT)

Wolfe Research assumed coverage on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued a peer perform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. reduced their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a neutral rating for the company in a research note on Thursday, April 25th. UBS Group decreased their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a neutral rating for the company in a research note on Thursday, April 25th. BTIG Research decreased their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Wells Fargo & Company decreased their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an overweight rating for the company in a research note on Thursday, April 25th. Finally, Bank of America cut Blackstone Mortgage Trust from a buy rating to a neutral rating and decreased their target price for the stock from $22.00 to $21.00 in a research note on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $19.93.

Blackstone Mortgage Trust Stock Down 2.6 %

NYSE:BXMT opened at $17.42 on Tuesday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 580.67 and a beta of 1.47. Blackstone Mortgage Trust has a twelve month low of $16.70 and a twelve month high of $23.82. The stock’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $19.42.

Blackstone Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 14.24%. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the sale, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at $3,194,454.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the sale, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at $3,194,454.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 4,508 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the transaction, the chief executive officer now owns 182,960 shares of the company’s stock, valued at approximately $3,207,288.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,057 shares of company stock valued at $191,141. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Central Bank & Trust Co. bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $25,000. Cape Investment Advisory Inc. purchased a new position in Blackstone Mortgage Trust in the 4th quarter worth $42,000. GAMMA Investing LLC purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $45,000. Creekmur Asset Management LLC purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $51,000. Finally, Sandy Spring Bank increased its position in shares of Blackstone Mortgage Trust by 10,652.0% in the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 2,663 shares during the period. 64.15% of the stock is owned by institutional investors.

About Blackstone Mortgage Trust

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.