Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Stock Has Consensus Target Price of $18.60

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has earned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.60.

A number of equities research analysts recently weighed in on BXMT shares. Keefe, Bruyette & Woods dropped their price target on Blackstone Mortgage Trust from $16.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, October 9th. Wall Street Zen lowered Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings lowered Blackstone Mortgage Trust from a “sell (d+)” rating to a “sell (d)” rating in a research 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. Finally, Citigroup restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th.

Insider Transactions at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, Director Henry Nassau acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $14.34 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 3,716 shares of company stock valued at $46,815 over the last ninety days. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Blackstone Mortgage Trust in the 2nd quarter valued at $18,109,000. Dupree Financial Group LLC lifted its stake in Blackstone Mortgage Trust by 85.1% in the 3rd quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust’s stock worth $6,834,000 after purchasing an additional 274,361 shares in the last quarter. Independent Financial Group LLC purchased a new stake in Blackstone Mortgage Trust in the 1st quarter worth $4,845,000. Bank of America Corp DE lifted its stake in Blackstone Mortgage Trust by 21.9% in the 1st quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust’s stock worth $24,839,000 after purchasing an additional 233,357 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Blackstone Mortgage Trust by 758.3% during the 1st quarter. First Trust Advisors LP now owns 185,148 shares of the real estate investment trust’s stock valued at $3,546,000 after purchasing an additional 163,577 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT stock opened at $10.62 on Friday. The company has a market capitalization of $1.79 billion, a P/E ratio of 117.94, a price-to-earnings-growth ratio of 0.25 and a beta of 0.92. Blackstone Mortgage Trust has a 52 week low of $10.11 and a 52 week high of $20.67. The company’s 50 day moving average price is $12.60 and its two-hundred day moving average price is $15.92.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results 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). Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. The firm had revenue of $158.06 million during the quarter, compared to analyst estimates of $157.32 million. Analysts forecast that Blackstone Mortgage Trust will post 0.91 earnings per share for the current year.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 17.7%. The ex-dividend date of this dividend was 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 that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.