Blackstone Mortgage Trust (NYSE:BXMT) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Blackstone Mortgage Trust (NYSE:BXMT) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04, Zacks reports. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. The business had revenue of $466.15 million during the quarter, compared to analyst estimates of $131.87 million. During the same period last year, the company earned $0.75 earnings per share.

Blackstone Mortgage Trust Stock Up 0.5 %

BXMT traded up $0.08 during midday trading on Friday, reaching $17.49. 1,093,805 shares of the company’s stock were exchanged, compared to its average volume of 2,138,437. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 580.33 and a beta of 1.49. Blackstone Mortgage Trust has a one year low of $16.70 and a one year high of $23.82. The business has a 50-day simple moving average of $17.88 and a two-hundred day simple moving average of $18.93.

Blackstone Mortgage Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 10.75%. The ex-dividend date is Monday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio is 8,266.67%.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,259 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $17.04, for a total transaction of $38,493.36. Following the completion of the transaction, the chief executive officer now owns 189,764 shares in the company, valued at $3,233,578.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Katharine A. Keenan sold 2,259 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total value of $38,493.36. Following the completion of the transaction, the chief executive officer now owns 189,764 shares in the company, valued at $3,233,578.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan sold 4,508 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction 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. Insiders sold a total of 11,057 shares of company stock worth $191,141 over the last quarter. Company insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BXMT. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. Wells Fargo & Company lowered their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group lowered their target price on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. BTIG Research reissued a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.93.

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.