Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Short Interest Update

Key Points

• Short interest fell sharply in April, dropping 33.3% to 8,385,100 shares as of April 15, equal to 5.0% of the shares outstanding and a 5.6-day short-interest ratio based on average daily volume.
• The company paid a quarterly dividend of $0.47 (annualized $1.88) yielding 9.4%, but the dividend payout ratio is an elevated 289.23%, indicating potential sustainability concerns.
• Analysts are mixed with an average rating of Hold and an average price target of $21.38 (JPMorgan upgraded to overweight), while institutional ownership is high at 64.15% with recent buying from firms like UBS, Bamco, Goldman and Invesco.

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 8,385,100 shares, a drop of 33.3% from the March 31st total of 12,576,160 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,505,012 shares, the short-interest ratio is currently 5.6 days.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Blackstone Mortgage Trust from a "neutral" rating to an "overweight" rating and set a $21.00 price objective for the company in a research report on Thursday, April 16th. BTIG Research reaffirmed a "buy" rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Blackstone Mortgage Trust in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their price target on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an "outperform" rating in a report on Thursday, February 12th. Finally, Zacks Research downgraded Blackstone Mortgage Trust from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Blackstone Mortgage Trust has an average rating of "Hold" and an average price target of $21.38.

Insider Activity at Blackstone Mortgage Trust

In related news, President Fernando Austin Pena sold 1,666 shares of the company's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total transaction of $31,454.08. Following the completion of the sale, the president owned 76,967 shares in the company, valued at approximately $1,453,136.96. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its position in shares of Blackstone Mortgage Trust by 24.4% during the third quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust's stock worth $56,740,000 after acquiring an additional 603,588 shares during the last quarter. Bamco Inc. NY increased its holdings in Blackstone Mortgage Trust by 17.9% in the 4th quarter. Bamco Inc. NY now owns 2,000,621 shares of the real estate investment trust's stock valued at $38,272,000 after acquiring an additional 304,307 shares during the last quarter. Norges Bank bought a new stake in Blackstone Mortgage Trust in the 4th quarter valued at $38,239,000. Goldman Sachs Group Inc. lifted its stake in Blackstone Mortgage Trust by 19.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,607,185 shares of the real estate investment trust's stock worth $30,745,000 after purchasing an additional 264,256 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Blackstone Mortgage Trust by 25.7% in the 4th quarter. Invesco Ltd. now owns 1,354,870 shares of the real estate investment trust's stock worth $25,919,000 after purchasing an additional 277,280 shares in the last quarter. Institutional investors own 64.15% of the company's stock.

Blackstone Mortgage Trust Stock Performance

Shares of Blackstone Mortgage Trust stock traded down $0.13 during trading hours on Tuesday, hitting $20.00. The company's stock had a trading volume of 1,758,331 shares, compared to its average volume of 1,318,909. The company has a market cap of $3.37 billion, a PE ratio of 30.76 and a beta of 1.00. The business has a 50 day moving average price of $19.29 and a two-hundred day moving average price of $19.23. Blackstone Mortgage Trust has a 12-month low of $17.67 and a 12-month high of $20.67.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.4%. The ex-dividend date was Tuesday, March 31st. Blackstone Mortgage Trust's dividend payout ratio is presently 289.23%.

About Blackstone Mortgage Trust

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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