Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $12.92 and last traded at $12.9170, with a volume of 249912 shares traded. The stock had previously closed at $13.14.
Analyst Ratings Changes
BXMT has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price objective (down from $20.00) on shares of Blackstone Mortgage Trust in a research note on Friday, July 31st. UBS Group initiated coverage on Blackstone Mortgage Trust in a report on Tuesday, June 2nd. They set a “buy” rating and a $21.00 price target on the stock. Zacks Research lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company lowered their target price on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.20.
View Our Latest Analysis on BXMT
Blackstone Mortgage Trust Stock Performance
Blackstone Mortgage Trust (NYSE:BXMT – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $158.06 million during the quarter, compared to analyst estimates of $157.32 million. On average, equities analysts expect that Blackstone Mortgage Trust, Inc. will post 0.9 earnings per share for the current year.
Blackstone Mortgage Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 14.6%. The ex-dividend date is Wednesday, September 30th. Blackstone Mortgage Trust’s payout ratio is presently 2,088.89%.
Insider Activity at Blackstone Mortgage Trust
In other Blackstone Mortgage Trust news, Director Henry Nassau bought 10,000 shares of Blackstone Mortgage Trust stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the completion of the acquisition, the director owned 218,523 shares in the company, valued at approximately $3,133,619.82. The trade was a 4.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Fernando Pena sold 1,670 shares of Blackstone Mortgage Trust stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $17.07, for a total value of $28,506.90. Following the transaction, the president owned 72,899 shares in the company, valued at $1,244,385.93. This trade represents a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 6,059 shares of company stock valued at $97,143 in the last ninety days. Insiders own 1.18% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Blackstone Mortgage Trust in the 2nd quarter valued at approximately $18,109,000. First Trust Advisors LP grew its stake 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 worth $3,546,000 after acquiring an additional 163,577 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Blackstone Mortgage Trust by 21.9% during 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 acquiring an additional 233,357 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Blackstone Mortgage Trust by 75.7% in the first quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust’s stock valued at $4,575,000 after purchasing an additional 102,904 shares during the last quarter. Finally, Shikiar Asset Management Inc. raised its holdings in shares of Blackstone Mortgage Trust by 96.4% in the first quarter. Shikiar Asset Management Inc. now owns 174,700 shares of the real estate investment trust’s stock valued at $3,346,000 after purchasing an additional 85,750 shares during the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc is a real estate investment trust (REIT) that originates and holds senior mortgage loans secured by commercial real estate. Its lending activities primarily focus on transitional and institutional-quality properties, including office, multifamily, hotel, industrial, retail and other commercial assets.
The company’s portfolio is concentrated in major real estate markets in the United States, Europe and Australia. Its loans are generally floating-rate and are designed to provide financing for acquisitions, refinancings, renovations, development and other commercial real estate activities.
Blackstone Mortgage Trust is externally managed by BXMT Advisors LLC, an affiliate of Blackstone.
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