Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report)’s stock price reached a new 52-week low during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $20.00 to $19.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Blackstone Mortgage Trust traded as low as $16.70 and last traded at $16.7450, with a volume of 688168 shares changing hands. The stock had previously closed at $17.08.
Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods dropped their target price on Blackstone Mortgage Trust from $20.50 to $20.00 and set an “outperform” rating for the company in a report on Friday, June 26th. Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. UBS Group started coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Weiss Ratings lowered shares of Blackstone Mortgage Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, June 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.
Get Our Latest Analysis on Blackstone Mortgage Trust
Insiders Place Their Bets
Hedge Funds Weigh In On Blackstone Mortgage Trust
A number of hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its position in Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 536 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth approximately $41,000. Ascentis Independent Advisors purchased a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth approximately $41,000. UMB Bank n.a. increased its holdings in Blackstone Mortgage Trust by 151.1% in the 4th quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Blackstone Mortgage Trust in the 3rd quarter valued at approximately $46,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.
Blackstone Mortgage Trust Stock Down 2.0%
The company has a market cap of $2.82 billion, a PE ratio of 27.47 and a beta of 0.90. The business has a 50-day simple moving average of $17.82 and a 200-day simple moving average of $18.81.
Blackstone Mortgage Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.2%. Blackstone Mortgage Trust’s payout ratio is presently 308.20%.
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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