Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Declares Quarterly Dividend of $0.47

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.47 per share by the real estate investment trust on Tuesday, July 15th. This represents a $1.88 annualized dividend and a dividend yield of 9.78%. The ex-dividend date is Monday, June 30th.

Blackstone Mortgage Trust has a payout ratio of 104.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Blackstone Mortgage Trust Trading Up 0.5%

Shares of NYSE BXMT traded up $0.10 during mid-day trading on Monday, hitting $19.22. The company had a trading volume of 1,043,530 shares, compared to its average volume of 1,657,732. The company has a market capitalization of $3.30 billion, a PE ratio of -16.43 and a beta of 1.11. The firm has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $18.97. Blackstone Mortgage Trust has a one year low of $16.51 and a one year high of $21.24.

Insiders Place Their Bets

In related news, Director Henry N. Nassau acquired 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $18.90 per share, for a total transaction of $189,000.00. Following the completion of the transaction, the director now directly owns 182,946 shares of the company's stock, valued at approximately $3,457,679.40. The trade was a 5.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Blackstone Mortgage Trust by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 570,233 shares of the real estate investment trust's stock worth $11,405,000 after acquiring an additional 37,838 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Blackstone Mortgage Trust by 5.0% in the first quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust's stock valued at $1,474,000 after buying an additional 3,478 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of 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 in the last quarter. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BXMT shares. UBS Group restated a "neutral" rating and issued a $19.50 price objective (up previously from $19.00) on shares of Blackstone Mortgage Trust in a report on Wednesday, May 21st. JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Thursday, May 1st. Keefe, Bruyette & Woods cut their target price on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set a "market perform" rating for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.50.

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.