According to MarketBeat Ratings, shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report ) have received an average recommendation of “Hold” from the eight brokerage firms covering the stock. Six analysts have rated the stock with a Hold recommendation, while two have given a Buy recommendation to the company's stock. The average one-year target price of the brokerage firms that have rated the company's stock in the past year is $19.93.
BXMT has been the subject of several analyst reports. BTIG Research lowered their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods reaffirmed their “market average” rating and set a $18.00 price target for Blackstone Mortgage Trust in a report on Tuesday, June 18th. Wolfe Research covered shares of Blackstone Mortgage Trust in a research report on Tuesday, June 25th. The firm issued a “peer average” rating on the stock. Finally, Wells Fargo & Company lowered their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, April 25th.
View the latest report on Blackstone Mortgage Trust
Blackstone Mortgage Trust shares rose 0.1%
Shares of NYSE BXMT opened at $17.29 on Friday. Blackstone Mortgage Trust's low and high in the past 12 months are $16.70 and $23.82, respectively. The stock has a market capitalization of $3 billion, a price-to-earnings ratio of 576.33 and a beta of 1.49. The company's 50-day moving average is $17.67 and its 200-day moving average is $19.22.
Blackstone Mortgage Trust announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.62. This works out to an annualized dividend of $2.48, for a dividend yield of 14.34%. The ex-dividend date is Friday, June 28th. Blackstone Mortgage Trust's dividend payout ratio is currently 8,266.67%.
Blackstone Mortgage Trust Insider Trading
In related news, CEO Katherine A. Keenan sold 2,259 shares of the company's stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total transaction value of $38,493.36. With this transaction the CEO now directly owns 189,764 shares of the company's stock, valued at $3,233,578.56. The sale was disclosed in a SEC filing, which is available at this link . In other news, CEO Katherine A. Keenan sold 4,508 shares of the company's stock in a transaction on Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction value of $79,025.24. Following the completion of the sale, the CEO will directly own 182,960 shares of the company's stock, valued at $3,207,288.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. CEO, Katherine A. Keenan also sold 2,259 shares of Blackstone Mortgage Trust stock in a transaction that took place on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total value of $38,493.36. Following the transaction, the CEO now owns 189,764 shares of the company's stock, valued at $3,233,578.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold a total of 11,057 shares of the company's stock, valued at $191,141. Corporate insiders own 0.93% of the company's stock.
Institutional Investors Invest in Blackstone Mortgage Trust
Several hedge funds have recently increased or decreased their stakes in the business. The Vanguard Group increased its stake in Blackstone Mortgage Trust by 15.3% in the third quarter. The Vanguard Group now owns 18,643,329 shares of the real estate investment trust valued at $405,492,000 after purchasing an additional 2,470,412 shares last quarter. Blackstone increased its stake in Blackstone Mortgage Trust by 9.5% in the fourth quarter. Blackstone now owns 7,948,955 shares of the real estate investment trust valued at $169,074,000 after purchasing an additional 686,881 shares during the period. Charles Schwab Investment Management increased its stake in Blackstone Mortgage Trust by 4.4% in the fourth quarter. Charles Schwab Investment Management Co. now owns 2,531,729 shares of the real estate investment trust's stock valued at $53,850,000 after purchasing an additional 106,670 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Blackstone Mortgage Trust by 45.5% in the third quarter. Ameriprise Financial Inc. now owns 2,141,173 shares of the real estate investment trust's stock valued at $46,578,000 after purchasing an additional 669,172 shares during the period. Finally, Norges Bank acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at $38,747,000. Institutional investors and hedge funds own 64.15% of the company's stock.
About Blackstone Mortgage Trust
(Get your free report
Blackstone Mortgage Trust, Inc., a real estate finance company, originates senior loans secured by commercial real estate in North America, Europe and Australia. The company originates and acquires senior adjustable rate mortgage loans secured by first lien mortgages on commercial real estate assets.
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