Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $20.50 Consensus Target Price from Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) has earned a consensus recommendation of "Hold" from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.50.

Several research analysts have weighed in on BXMT shares. JMP Securities reaffirmed a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. UBS Group reaffirmed a "neutral" rating and set a $19.50 price target (up previously from $19.00) on shares of Blackstone Mortgage Trust in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered their price target on Blackstone Mortgage Trust from $20.50 to $20.00 and set a "market perform" rating on the stock in a research report on Monday, April 7th.

Insider Transactions at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,323 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.70, for a total value of $48,086.10. Following the completion of the sale, the chief executive officer now directly owns 248,487 shares in the company, valued at $5,143,680.90. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry N. Nassau bought 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $18.90 per share, with a total value of $189,000.00. Following the completion of the transaction, the director now owns 182,946 shares in the company, valued at approximately $3,457,679.40. This trade represents a 5.78% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,652 shares of company stock worth $116,971. 1.02% of the stock is owned by company insiders.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors have recently modified their holdings of BXMT. Norges Bank bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter valued at $35,662,000. Balyasny Asset Management L.P. raised its holdings in shares of Blackstone Mortgage Trust by 39.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust's stock worth $49,315,000 after buying an additional 801,083 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Blackstone Mortgage Trust by 696.6% during the 1st quarter. MetLife Investment Management LLC now owns 843,692 shares of the real estate investment trust's stock worth $16,874,000 after buying an additional 737,778 shares in the last quarter. Blackstone Inc. raised its holdings in shares of Blackstone Mortgage Trust by 8.2% during the 4th quarter. Blackstone Inc. now owns 8,601,492 shares of the real estate investment trust's stock worth $149,752,000 after buying an additional 652,537 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Blackstone Mortgage Trust by 473.3% during the 4th quarter. Millennium Management LLC now owns 625,060 shares of the real estate investment trust's stock worth $10,882,000 after buying an additional 516,023 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock traded up $0.26 during midday trading on Wednesday, reaching $19.10. The stock had a trading volume of 839,532 shares, compared to its average volume of 1,696,796. The firm's fifty day simple moving average is $18.92 and its 200-day simple moving average is $18.93. Blackstone Mortgage Trust has a 1-year low of $16.51 and a 1-year high of $21.24. The stock has a market capitalization of $3.28 billion, a P/E ratio of -16.32 and a beta of 1.12.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 9.85%. Blackstone Mortgage Trust's dividend payout ratio is currently -408.70%.

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.