Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Stock Has Consensus Target Price of $19.20 According to Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have received an average rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.20.

Several analysts recently commented on the company. UBS Group assumed coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Citigroup reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, August 25th. JPMorgan Chase & Co. reduced their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Zacks Research lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $16.00 target price (down from $20.00) on shares of Blackstone Mortgage Trust in a research report on Friday, July 31st.

Insider Activity

In other news, President Fernando Pena sold 1,670 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $17.07, for a total transaction of $28,506.90. Following the completion of the sale, the president owned 72,899 shares of the company’s stock, valued at approximately $1,244,385.93. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Henry Nassau bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average price of $14.34 per share, with a total value of $143,400.00. Following the purchase, the director directly owned 218,523 shares of the company’s stock, valued at $3,133,619.82. The trade was a 4.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 3,661 shares of company stock worth $55,226 over the last ninety days. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of BXMT. Cibc World Market Inc. raised its position in Blackstone Mortgage Trust by 1.2% in the 4th quarter. Cibc World Market Inc. now owns 95,262 shares of the real estate investment trust’s stock worth $1,822,000 after purchasing an additional 1,114 shares during the last quarter. Whipplewood Advisors LLC boosted its position in Blackstone Mortgage Trust by 6.0% in the 1st quarter. Whipplewood Advisors LLC now owns 20,551 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 1,158 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Blackstone Mortgage Trust by 3.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 46,722 shares of the real estate investment trust’s stock valued at $792,000 after buying an additional 1,579 shares during the period. Tidal Investments LLC increased its stake in shares of Blackstone Mortgage Trust by 5.6% in the 2nd quarter. Tidal Investments LLC now owns 29,607 shares of the real estate investment trust’s stock valued at $502,000 after buying an additional 1,583 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Blackstone Mortgage Trust by 67.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 4,331 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 1,749 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Up 1.1%

NYSE BXMT opened at $12.53 on Wednesday. The stock has a market cap of $2.11 billion, a P/E ratio of 139.17, a PEG ratio of 0.29 and a beta of 0.90. The company’s 50-day simple moving average is $14.32 and its 200 day simple moving average is $17.03. Blackstone Mortgage Trust has a twelve month low of $12.31 and a twelve month high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10). Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%.The business had revenue of $158.06 million during the quarter, compared to analyst estimates of $157.32 million. Research analysts anticipate that Blackstone Mortgage Trust will post 0.9 earnings per share for the current year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio is currently 2,088.89%.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust (REIT) that originates and holds senior mortgage loans secured by commercial real estate. Its lending activities primarily focus on transitional and institutional-quality properties, including office, multifamily, hotel, industrial, retail and other commercial assets.

The company’s portfolio is concentrated in major real estate markets in the United States, Europe and Australia. Its loans are generally floating-rate and are designed to provide financing for acquisitions, refinancings, renovations, development and other commercial real estate activities.

Blackstone Mortgage Trust is externally managed by BXMT Advisors LLC, an affiliate of Blackstone.