Blackstone Mortgage Trust (NYSE:BXMT) Shares Gap Down to $17.89

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) gapped down before the market opened on Friday . The stock had previously closed at $17.89, but opened at $17.30. Blackstone Mortgage Trust shares last traded at $17.49, with a volume of 155,642 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BXMT shares. BTIG Research lowered their price target 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. Wolfe Research began coverage on Blackstone Mortgage Trust in a research note on Tuesday. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Finally, Wells Fargo & Company lowered their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.93.

Blackstone Mortgage Trust Stock Performance

The firm has a 50 day moving average of $17.80 and a two-hundred day moving average of $19.45. The stock has a market cap of $3.02 billion, a P/E ratio of 596.67 and a beta of 1.47.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.48 annualized dividend and a yield of 14.25%. Blackstone Mortgage Trust’s payout ratio is 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,259 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $17.04, for a total value of $38,493.36. Following the completion of the sale, the chief executive officer now owns 189,764 shares in the company, valued at approximately $3,233,578.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,259 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $17.04, for a total value of $38,493.36. Following the completion of the sale, the chief executive officer now owns 189,764 shares in the company, valued at approximately $3,233,578.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 4,508 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the sale, the chief executive officer now owns 182,960 shares of the company’s stock, valued at approximately $3,207,288.80. The disclosure for this sale can be found here. Insiders sold a total of 11,057 shares of company stock worth $191,141 in the last 90 days. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds have recently modified their holdings of the stock. Central Bank & Trust Co. acquired a new stake in Blackstone Mortgage Trust during the 4th quarter valued at $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at $42,000. GAMMA Investing LLC acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at $45,000. Creekmur Asset Management LLC acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at $51,000. Finally, Sandy Spring Bank increased its stake in shares of Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 2,663 shares during the period. 64.15% of the stock is owned by institutional investors and hedge funds.

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.