Blackstone Mortgage Trust (NYSE:BXMT - Free Report) had its price objective cut by JPMorgan Chase & Co. from $20.00 to $18.50 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.
A number of other research analysts also recently issued reports on the company. UBS Group raised their price target on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.25.
Check Out Our Latest Analysis on Blackstone Mortgage Trust
Blackstone Mortgage Trust Stock Down 1.9 %
NYSE BXMT traded down $0.35 on Wednesday, hitting $18.00. 248,914 shares of the stock were exchanged, compared to its average volume of 1,802,543. Blackstone Mortgage Trust has a fifty-two week low of $16.51 and a fifty-two week high of $21.24. The company has a market cap of $3.09 billion, a PE ratio of -15.38 and a beta of 1.22. The company has a 50-day moving average price of $19.70 and a 200-day moving average price of $18.83.
Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. As a group, equities research analysts predict that Blackstone Mortgage Trust will post 1.65 EPS for the current fiscal year.
Blackstone Mortgage Trust Announces Dividend
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 10.44%. Blackstone Mortgage Trust's dividend payout ratio (DPR) is -160.68%.
Insiders Place Their Bets
In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,315 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $20.70, for a total transaction of $47,920.50. Following the sale, the chief executive officer now directly owns 246,172 shares in the company, valued at approximately $5,095,760.40. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 5,652 shares of company stock worth $116,971. Company insiders own 0.93% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Blackstone Mortgage Trust by 11.4% in the 3rd quarter. FMR LLC now owns 17,812 shares of the real estate investment trust's stock valued at $339,000 after purchasing an additional 1,827 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Blackstone Mortgage Trust by 15.4% during the 3rd quarter. Stifel Financial Corp now owns 70,381 shares of the real estate investment trust's stock worth $1,338,000 after buying an additional 9,405 shares during the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $63,000. Virtu Financial LLC purchased a new position in Blackstone Mortgage Trust during the 3rd quarter valued at about $350,000. Finally, Tidal Investments LLC acquired a new position in Blackstone Mortgage Trust during the third quarter worth about $883,000. 64.15% of the stock is owned by hedge funds and other institutional investors.
Blackstone Mortgage Trust Company Profile
(
Get Free Report)
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.
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