Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $20.00 Consensus Target Price from Brokerages

Key Points

• Blackstone Mortgage Trust has a consensus rating of "Hold" from six brokerages, with an average 12-month price target of $20.00.
• The company recently declared a quarterly dividend of $0.47 per share, resulting in an annualized dividend yield of 9.5%.
• Insider transactions indicate a decrease in positions as both the CFO and CEO sold shares recently, impacting their ownership stakes.

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) have earned a consensus rating of "Hold" from the six brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.00.

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating on the stock in a report on Thursday, July 31st. UBS Group lifted their price target on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th.

Blackstone Mortgage Trust Trading Down 0.3%

Shares of NYSE:BXMT traded down $0.06 on Friday, reaching $19.87. The company had a trading volume of 794,254 shares, compared to its average volume of 1,414,558. The firm has a market capitalization of $3.41 billion, a PE ratio of -283.86 and a beta of 1.16. Blackstone Mortgage Trust has a 52-week low of $16.51 and a 52-week high of $21.24. The firm's 50 day simple moving average is $19.34 and its 200-day simple moving average is $19.33.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.5%. Blackstone Mortgage Trust's payout ratio is presently -2,685.71%.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $19.20, for a total transaction of $29,126.40. Following the sale, the chief financial officer owned 64,082 shares of the company's stock, valued at approximately $1,230,374.40. The trade was a 2.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Katharine A. Keenan sold 6,931 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total transaction of $132,590.03. Following the completion of the transaction, the chief executive officer directly owned 236,914 shares of the company's stock, valued at approximately $4,532,164.82. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,069 shares of company stock valued at $231,343 over the last ninety days. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of Blackstone Mortgage Trust during the first quarter worth $29,000. Jones Financial Companies Lllp raised its stake in shares of Blackstone Mortgage Trust by 45.5% during the 1st 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. Rossby Financial LCC acquired a new position in shares of Blackstone Mortgage Trust in the 1st quarter valued at about $49,000. FNY Investment Advisers LLC boosted its stake in shares of Blackstone Mortgage Trust by 420.0% in the second quarter. FNY Investment Advisers LLC now owns 2,600 shares of the real estate investment trust's stock worth $50,000 after buying an additional 2,100 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Blackstone Mortgage Trust by 187.8% in the first quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust's stock worth $60,000 after buying an additional 1,944 shares during the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

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.