Blackstone Mortgage Trust (NYSE:BXMT) Sees Large Volume Increase - What's Next?

Key Points

• Shares saw mid-day volume rise to 1,563,556 (up 10%) and last traded around $19.22, while analysts have a consensus rating of "Moderate Buy" with a consensus target of $21.13 and several price targets up to $23.00.
• The firm declared a quarterly dividend of $0.47 (annualized $1.88), implying a 9.8% yield289.23%, suggesting potential sustainability concerns.

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) shares saw an uptick in trading volume on Friday . 1,563,556 shares were traded during mid-day trading, an increase of 10% from the previous session's volume of 1,425,470 shares.The stock last traded at $19.2240 and had previously closed at $19.19.

Wall Street Analysts Forecast Growth

BXMT has been the subject of several recent analyst reports. Zacks Research raised Blackstone Mortgage Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. BTIG Research restated a "buy" rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Keefe, Bruyette & Woods raised their price objective on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone Mortgage Trust from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 4th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Blackstone Mortgage Trust in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

Blackstone Mortgage Trust Price Performance

The company has a fifty day moving average price of $19.30 and a 200 day moving average price of $19.15. The stock has a market cap of $3.24 billion, a P/E ratio of 29.55 and a beta of 1.06.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.88 annualized dividend and a yield of 9.8%. Blackstone Mortgage Trust's dividend payout ratio is presently 289.23%.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 3,131 shares of Blackstone Mortgage Trust stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $19.24, for a total transaction of $60,240.44. Following the completion of the transaction, the president directly owned 78,633 shares in the company, valued at $1,512,898.92. This trade represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.02% of the company's stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its stake in shares of Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 536 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Blackstone Mortgage Trust by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 570,233 shares of the real estate investment trust's stock valued at $11,405,000 after buying an additional 37,838 shares during the last quarter. Intech Investment Management LLC grew its holdings in Blackstone Mortgage Trust by 5.0% during the first quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust's stock worth $1,474,000 after buying an additional 3,478 shares in the last quarter. Cetera Investment Advisers raised its position in Blackstone Mortgage Trust by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 150,489 shares of the real estate investment trust's stock valued at $2,897,000 after buying an additional 2,736 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Blackstone Mortgage Trust by 11.1% in the 2nd quarter. Legal & General Group Plc now owns 515,477 shares of the real estate investment trust's stock valued at $9,923,000 after buying an additional 51,309 shares during the last quarter. Institutional investors own 64.15% of the company's stock.

Blackstone Mortgage Trust Company Profile

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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