Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $19.13, but opened at $18.00. Blackstone Mortgage Trust shares last traded at $17.99, with a volume of 1,246,153 shares trading hands.
Analyst Upgrades and Downgrades
Several research firms have commented on BXMT. JPMorgan Chase & Co. cut their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a "neutral" rating for the company in a research note on Wednesday, April 10th. BTIG Research lowered their target price on Blackstone Mortgage Trust from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, April 17th. UBS Group reduced their price objective on Blackstone Mortgage Trust from $21.50 to $21.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods cut their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a "market perform" rating for the company in a research note on Wednesday, April 10th. Finally, Bank of America lowered shares of Blackstone Mortgage Trust from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $21.00 in a report on Monday, March 4th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Blackstone Mortgage Trust currently has an average rating of "Hold" and an average target price of $20.83.
Read Our Latest Stock Analysis on BXMT
Blackstone Mortgage Trust Price Performance
The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 12.95 and a beta of 1.42. The firm has a 50 day moving average price of $19.56 and a 200-day moving average price of $20.62.
Blackstone Mortgage Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 13.58%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently 175.89%.
Insider Activity
In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares of the company's stock, valued at approximately $3,967,565.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now directly owns 192,023 shares of the company's stock, valued at approximately $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katharine A. Keenan sold 2,274 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the transaction, the chief executive officer now owns 194,298 shares of the company's stock, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,540 shares of company stock worth $112,642. 1.02% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Blackstone Mortgage Trust
Hedge funds have recently modified their holdings of the stock. Central Bank & Trust Co. purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at about $42,000. GAMMA Investing LLC acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $45,000. Creekmur Asset Management LLC acquired a new stake in shares of Blackstone Mortgage Trust during the 4th quarter valued at approximately $51,000. Finally, Sandy Spring Bank boosted its position in Blackstone Mortgage Trust by 10,652.0% during the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 2,663 shares in the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.
About Blackstone Mortgage Trust
(
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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