Blackstone Mortgage Trust (NYSE:BXMT) Upgraded at Zacks Research

Zacks Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Blackstone Mortgage Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Raymond James Financial lowered shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 target price (down from $20.00) on shares of Blackstone Mortgage Trust in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.20.

Blackstone Mortgage Trust Trading Down 0.6%

Shares of NYSE:BXMT opened at $11.19 on Monday. Blackstone Mortgage Trust has a 1-year low of $10.78 and a 1-year high of $20.67. The firm has a market capitalization of $1.89 billion, a PE ratio of 124.30, a PEG ratio of 0.26 and a beta of 0.92. The business’s 50 day moving average is $13.50 and its 200-day moving average is $16.59.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.10). The firm had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. On average, sell-side analysts predict that Blackstone Mortgage Trust will post 0.9 EPS for the current year.

Blackstone Mortgage Trust Announces Dividend

The business 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 16.8%. The ex-dividend date is Wednesday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio is currently 2,088.89%.

Insider Activity

In other news, Director Henry Nassau bought 10,000 shares of Blackstone Mortgage Trust stock in a transaction dated Tuesday, August 4th. The shares were bought at an average price of $14.34 per share, for a total transaction of $143,400.00. Following the purchase, the director owned 218,523 shares of the company’s stock, valued at approximately $3,133,619.82. This trade represents a 4.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,716 shares of company stock worth $46,815 over the last three months. 1.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently made changes to their positions in the company. Ascentis Independent Advisors bought a new position in Blackstone Mortgage Trust during the 1st quarter valued at about $41,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Blackstone Mortgage Trust during the second quarter worth approximately $39,000. Central Pacific Bank Trust Division raised its stake in shares of Blackstone Mortgage Trust by 50.0% in the third quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $82,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Blackstone Mortgage Trust in the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a real estate finance company organized as a real estate investment trust. The company originates and holds senior loans secured by commercial properties, with a focus on institutional-quality assets and experienced real estate sponsors.

Its portfolio primarily consists of floating-rate mortgage loans used to finance acquisitions, refinancings, development and other capital needs for commercial real estate. The properties securing its loans may include office buildings, multifamily communities, hotels, industrial facilities, retail centers and other commercial assets.

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