Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Stock Has Average Price Target of $18.60 According to Brokerages

Key Points

• Analysts maintain a consensus “Hold” rating on Blackstone Mortgage Trust, with four buys, four holds and one sell; the average 12-month price target is $18.60 versus the reported share price of $10.51.
• BXMT shares have declined 2.6% and are trading near their 12-month low, while the company’s latest quarterly EPS of $0.31 fell short of the $0.41 consensus estimate despite revenue slightly exceeding expectations.
• The company paid a quarterly dividend of $0.47 per share, equivalent to a 17.9% annualized yield, while institutional investors own 64.15% of the stock and an insider recently purchased 10,000 shares.

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) have earned a consensus recommendation of "Hold" from the nine analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.60.

BXMT has been the subject of several research reports. Zacks Research upgraded shares of Blackstone Mortgage Trust from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. JPMorgan Chase & Co. lowered their price target 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. Weiss Ratings lowered shares of Blackstone Mortgage Trust from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, July 31st. Raymond James Financial cut shares of Blackstone Mortgage Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, August 6th. Finally, Citigroup restated a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Tuesday, August 25th.

Insider Transactions at Blackstone Mortgage Trust

In related news, Director Henry Nassau bought 10,000 shares of the company's stock in a transaction 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 completion of the acquisition, the director owned 218,523 shares of the company's stock, valued at $3,133,619.82. The trade was a 4.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 3,716 shares of company stock worth $46,815 in the last three months. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently bought and sold shares of BXMT. Northside Capital Management LLC purchased a new stake in Blackstone Mortgage Trust during the 2nd quarter valued at about $28,000. Central Pacific Bank Trust Division increased its stake in Blackstone Mortgage Trust by 50.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Blackstone Mortgage Trust during the 2nd quarter valued at about $39,000. Ascentis Independent Advisors purchased a new position in Blackstone Mortgage Trust in the first quarter worth about $41,000. Finally, Versant Capital Management Inc raised its holdings in Blackstone Mortgage Trust by 1,142.4% in the third quarter. Versant Capital Management Inc now owns 6,858 shares of the real estate investment trust's stock worth $79,000 after buying an additional 6,306 shares during the last quarter. Institutional investors own 64.15% of the company's stock.

Blackstone Mortgage Trust Stock Down 2.6%

Shares of BXMT stock opened at $10.51 on Friday. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 116.72, a PEG ratio of 0.25 and a beta of 0.92. The business's fifty day moving average is $13.00 and its 200 day moving average is $16.22. Blackstone Mortgage Trust has a twelve month low of $10.45 and a twelve month high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10). The business had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. Equities research analysts expect that Blackstone Mortgage Trust will post 0.90 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 17.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Blackstone Mortgage Trust's dividend payout ratio (DPR) is 2,088.89%.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc NYSE: BXMT is a real estate finance company organized as a real estate investment trust. The company originates and holds senior loans secured by commercial properties, with a focus on institutional-quality assets and experienced real estate sponsors.

Its portfolio primarily consists of floating-rate mortgage loans used to finance acquisitions, refinancings, development and other capital needs for commercial real estate. The properties securing its loans may include office buildings, multifamily communities, hotels, industrial facilities, retail centers and other commercial assets.

Blackstone Mortgage Trust is externally managed by BXMT Advisors L.P., an affiliate of Blackstone.

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