Analysts Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Price Target at $20.08

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have earned an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.08.

Several research firms have recently weighed in on BXMT. Wolfe Research assumed coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating for the company. BTIG Research reaffirmed a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Wells Fargo & Company upped their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, JMP Securities restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd.

Blackstone Mortgage Trust Trading Up 1.5 %

BXMT stock opened at $19.02 on Tuesday. The firm has a market cap of $3.30 billion, a PE ratio of 634.00 and a beta of 1.50. The stock has a 50-day moving average price of $18.46 and a 200-day moving average price of $18.18. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $23.29.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. The business had revenue of $466.15 million during the quarter, compared to analysts’ expectations of $131.87 million. During the same quarter last year, the firm posted $0.75 earnings per share. On average, analysts forecast that Blackstone Mortgage Trust will post 1.94 earnings per share for the current year.

Blackstone Mortgage Trust announced that its board has approved a stock repurchase program on Wednesday, July 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Blackstone Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date was Monday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 6,266.67%.

Insider Buying and Selling

In related news, Director Henry N. Nassau bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $17.52 per share, for a total transaction of $175,200.00. Following the completion of the acquisition, the director now directly owns 165,557 shares of the company’s stock, valued at $2,900,558.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Henry N. Nassau bought 10,000 shares of Blackstone Mortgage Trust stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $17.52 per share, for a total transaction of $175,200.00. Following the purchase, the director now directly owns 165,557 shares in the company, valued at $2,900,558.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Steven Johnson bought 57,050 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $17.50 per share, with a total value of $998,375.00. Following the acquisition, the director now owns 423,251 shares of the company’s stock, valued at $7,406,892.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 83,050 shares of company stock worth $1,448,135 and have sold 1,495 shares worth $27,899. 0.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of BXMT. Park Place Capital Corp purchased a new stake in shares of Blackstone Mortgage Trust during the second quarter valued at approximately $26,000. Versant Capital Management Inc increased its position in shares of Blackstone Mortgage Trust by 66.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 871 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $51,000. Wellington Shields & Co. LLC boosted its holdings in shares of Blackstone Mortgage Trust by 98.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 4,555 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 2,255 shares during the last quarter. Finally, Westend Capital Management LLC purchased a new position in shares of Blackstone Mortgage Trust in the 1st quarter worth about $83,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

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.