JPMorgan Chase & Co. Has Lowered Expectations for Blackstone Mortgage Trust (NYSE:BXMT) Stock Price

Blackstone Mortgage Trust (NYSE:BXMT) had its target price reduced by JPMorgan Chase & Co. from $18.50 to $17.50 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on BXMT. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “market perform” rating for the company in a research note on Tuesday, January 14th. Wolfe Research raised 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $20.14.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $17.59 on Tuesday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -12.66 and a beta of 1.50. The business has a 50 day simple moving average of $18.34 and a 200 day simple moving average of $18.40. Blackstone Mortgage Trust has a 52 week low of $16.53 and a 52 week high of $21.50.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.69%. The ex-dividend date was Tuesday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio is currently -135.25%.

Institutional Trading of Blackstone Mortgage Trust

A number of hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Blackstone Mortgage Trust in the 3rd quarter valued at $39,000. McIlrath & Eck LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $63,000. Future Financial Wealth Managment LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $95,000. KBC Group NV lifted its holdings in Blackstone Mortgage Trust by 39.3% during the 4th quarter. KBC Group NV now owns 7,601 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $172,000. Institutional investors own 64.15% of the company’s stock.

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.