Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.20.
BXMT has been the subject of a number of analyst reports. Weiss Ratings cut shares of Blackstone Mortgage Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 31st. Wall Street Zen cut shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Wells Fargo & Company dropped their price target on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $16.00 price objective (down from $20.00) on shares of Blackstone Mortgage Trust in a report on Friday, July 31st.
Get Our Latest Analysis on BXMT
Blackstone Mortgage Trust Stock Up 2.3%
Blackstone Mortgage Trust (NYSE:BXMT – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 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 business had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. On average, analysts expect that Blackstone Mortgage Trust will post 1.21 EPS for the current year.
Blackstone Mortgage Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 13.3%. Blackstone Mortgage Trust’s dividend payout ratio is 2,088.89%.
Insiders Place Their Bets
In other news, President Fernando Austin Pena sold 1,670 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $17.07, for a total value of $28,506.90. Following the completion of the sale, the president owned 72,899 shares in the company, valued at $1,244,385.93. This represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 N. Nassau bought 10,000 shares of the 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 acquisition, the director owned 218,523 shares of the company’s stock, valued at $3,133,619.82. The trade was a 4.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 5,420 shares of company stock valued at $95,233 over the last three months. 1.18% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Blackstone Mortgage Trust
Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its stake in Blackstone Mortgage Trust by 24.4% in the 3rd quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust’s stock valued at $56,740,000 after buying an additional 603,588 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Blackstone Mortgage Trust by 17.9% in the 4th quarter. Bamco Inc. NY now owns 2,000,621 shares of the real estate investment trust’s stock worth $38,272,000 after buying an additional 304,307 shares during the last quarter. Norges Bank purchased a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $38,239,000. Goldman Sachs Group Inc. grew its holdings in shares of Blackstone Mortgage Trust by 19.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,607,185 shares of the real estate investment trust’s stock valued at $30,745,000 after acquiring an additional 264,256 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Blackstone Mortgage Trust by 25.7% in the fourth quarter. Invesco Ltd. now owns 1,354,870 shares of the real estate investment trust’s stock valued at $25,919,000 after acquiring an additional 277,280 shares in the last quarter. 64.15% of the stock is owned by institutional investors.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.
The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.
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