Blackstone Mortgage Trust (NYSE:BXMT) Given New $20.00 Price Target at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT - Free Report) had its price target increased by Keefe, Bruyette & Woods from $19.50 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a market perform rating on the real estate investment trust's stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. cut their price objective on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a report on Wednesday, April 16th. JMP Securities reiterated a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. Finally, UBS Group restated a "neutral" rating and set a $19.50 price objective (up previously from $19.00) on shares of Blackstone Mortgage Trust in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust presently has a consensus rating of "Hold" and an average price target of $20.50.

Blackstone Mortgage Trust Stock Down 1.1%

BXMT stock traded down $0.22 during midday trading on Thursday, reaching $19.90. The company had a trading volume of 749,372 shares, compared to its average volume of 1,616,338. The stock has a 50 day moving average price of $19.27 and a 200 day moving average price of $19.08. Blackstone Mortgage Trust has a fifty-two week low of $16.51 and a fifty-two week high of $21.24. The firm has a market capitalization of $3.41 billion, a PE ratio of -43.26 and a beta of 1.10.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.45%. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently -408.70%.

Insider Activity

In other news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total transaction of $29,126.40. Following the completion of the sale, the chief financial officer owned 64,082 shares in the company, valued at approximately $1,230,374.40. This represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry N. Nassau acquired 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 transaction, the director directly owned 182,946 shares in the company, valued at approximately $3,457,679.40. The trade was a 5.78% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 9,248 shares of company stock worth $177,028. Insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of BXMT. ExodusPoint Capital Management LP purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at $4,952,000. Norges Bank purchased a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth $35,662,000. Janney Montgomery Scott LLC raised its holdings in shares of Blackstone Mortgage Trust by 45.2% during the first quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust's stock worth $422,000 after acquiring an additional 6,571 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth $1,326,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Blackstone Mortgage Trust by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,534,980 shares of the real estate investment trust's stock worth $44,134,000 after acquiring an additional 121,633 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, 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.