Blackstone Mortgage Trust (NYSE:BXMT) Director Buys $143,400.00 in Stock

Key Points

• Director Henry Nassau purchased 10,000 BXMT shares at an average price of $14.34, investing $143,400 and increasing his stake by 4.8% to 218,523 shares.
• BXMT shares traded near $13.88, close to their 52-week low of $13.73, after the company reported quarterly EPS of $0.31—below the $0.41 analyst consensus—despite revenue slightly exceeding estimates.
• The REIT declared a quarterly dividend of $0.47, equivalent to a 13.5% annualized yield, while analysts maintained an overall “Hold” rating with an average price target of $19.20.

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) Director Henry Nassau bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average cost of $14.34 per share, with a total value of $143,400.00. Following the transaction, the director owned 218,523 shares in the company, valued at approximately $3,133,619.82. This represents a 4.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Blackstone Mortgage Trust Price Performance

BXMT stock traded down $0.06 during midday trading on Thursday, reaching $13.88. 3,360,474 shares of the company's stock traded hands, compared to its average volume of 1,619,784. The company has a market capitalization of $2.34 billion, a P/E ratio of 154.21 and a beta of 0.91. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $13.73 and a fifty-two week high of $20.67. The business has a 50-day moving average price of $17.20 and a two-hundred day moving average price of $18.49.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10). Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%.The business had revenue of $158.06 million during the quarter, compared to analyst estimates of $157.32 million. As a group, research analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.21 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 13.5%. The ex-dividend date was Tuesday, June 30th. Blackstone Mortgage Trust's dividend payout ratio is currently 2,088.89%.

Wall Street Analyst Weigh In

A number of research analysts have commented on BXMT shares. Zacks Research cut Blackstone Mortgage Trust from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company dropped their target price on Blackstone Mortgage Trust from $22.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $16.00 price target (down from $20.00) on shares of Blackstone Mortgage Trust in a research report on Friday, July 31st. Weiss Ratings cut Blackstone Mortgage Trust from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.20.

Institutional Trading of Blackstone Mortgage Trust

Several institutional investors have recently modified their holdings of BXMT. First Trust Advisors LP boosted its holdings in Blackstone Mortgage Trust by 758.3% during the first quarter. First Trust Advisors LP now owns 185,148 shares of the real estate investment trust's stock worth $3,546,000 after buying an additional 163,577 shares in the last quarter. Shikiar Asset Management Inc. increased 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 buying an additional 85,750 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Blackstone Mortgage Trust by 75.7% during the 1st quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust's stock valued at $4,575,000 after acquiring an additional 102,904 shares during the last quarter. Independent Financial Group LLC bought a new stake in shares of Blackstone Mortgage Trust during the 1st quarter worth $4,845,000. Finally, Apollon Wealth Management LLC boosted its stake in shares of Blackstone Mortgage Trust by 103.3% during the 4th quarter. Apollon Wealth Management LLC now owns 86,573 shares of the real estate investment trust's stock worth $1,656,000 after acquiring an additional 43,996 shares in the last quarter. Institutional investors and hedge funds own 64.15% of the company's stock.

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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