Blackstone Mortgage Trust (NYSE:BXMT) Hits New 52-Week High After Analyst Upgrade

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s stock price hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $17.50 to $20.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Blackstone Mortgage Trust traded as high as $20.73 and last traded at $20.67, with a volume of 1394347 shares. The stock had previously closed at $20.53.

Several other equities analysts have also weighed in on BXMT. Keefe, Bruyette & Woods increased their price objective on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “market perform” rating in a report on Thursday, February 13th. Wolfe Research upgraded shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.64.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alpine Global Management LLC acquired a new position in Blackstone Mortgage Trust during the 4th quarter worth about $2,176,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Blackstone Mortgage Trust by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 532,395 shares of the real estate investment trust’s stock worth $9,269,000 after purchasing an additional 56,621 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Blackstone Mortgage Trust by 13.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 425,000 shares of the real estate investment trust’s stock valued at $7,399,000 after purchasing an additional 50,000 shares during the last quarter. Strategic Wealth Partners Ltd. acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $477,000. Finally, Point72 Asset Management L.P. bought a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $4,862,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Mortgage Trust Trading Up 0.7 %

The business’s fifty day simple moving average is $18.33 and its 200 day simple moving average is $18.43. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -17.66 and a beta of 1.50.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. As a group, research analysts anticipate that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current year.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.10%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently -160.68%.

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.