Brokerages Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Target Price at $21.67

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) have earned a consensus recommendation of "Hold" from the five research firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $21.67.

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone Mortgage Trust from $22.00 to $21.00 and set a "market perform" rating on the stock in a report on Friday, February 16th. Bank of America downgraded shares of Blackstone Mortgage Trust from a "buy" rating to a "neutral" rating and cut their price objective for the company from $22.00 to $21.00 in a report on Monday, March 4th. Finally, UBS Group cut their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, March 20th.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,274 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares in the company, valued at $3,967,565.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the sale, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock worth $112,642 over the last quarter. Insiders own 1.02% of the company's stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its position in shares of Blackstone Mortgage Trust by 14.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 60,571 shares of the real estate investment trust's stock valued at $1,926,000 after buying an additional 7,506 shares in the last quarter. US Bancorp DE lifted its position in shares of Blackstone Mortgage Trust by 11.8% during the 1st quarter. US Bancorp DE now owns 18,508 shares of the real estate investment trust's stock valued at $588,000 after buying an additional 1,957 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Blackstone Mortgage Trust by 43.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 12,607 shares of the real estate investment trust's stock valued at $401,000 after buying an additional 3,802 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Blackstone Mortgage Trust by 50.6% during the 1st quarter. MetLife Investment Management LLC now owns 82,945 shares of the real estate investment trust's stock valued at $2,637,000 after buying an additional 27,873 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at approximately $200,000. Hedge funds and other institutional investors own 64.15% of the company's stock.

Blackstone Mortgage Trust Stock Up 0.7 %

Shares of BXMT traded up $0.13 during mid-day trading on Friday, hitting $19.91. 1,609,961 shares of the company traded hands, compared to its average volume of 1,843,762. Blackstone Mortgage Trust has a 1-year low of $16.60 and a 1-year high of $23.82. The company has a market capitalization of $3.46 billion, a PE ratio of 14.12 and a beta of 1.43. The business has a 50 day moving average of $19.88 and a 200 day moving average of $21.06.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $0.62 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a yield of 12.46%. Blackstone Mortgage Trust's dividend payout ratio is currently 175.89%.

Blackstone Mortgage Trust Company Profile

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.