Blackstone Mortgage Trust Inc (NYSE:BXMT) Treasurer Douglas N. Armer sold 909 shares of the stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $34.84, for a total value of $31,669.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of NYSE:BXMT traded up $0.20 during trading on Friday, hitting $35.12. The stock had a trading volume of 1,279,193 shares, compared to its average volume of 1,429,453. Blackstone Mortgage Trust Inc has a 12 month low of $29.51 and a 12 month high of $35.28. The firm has a market capitalization of $4.13 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.64 and a beta of 0.46.
Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Blackstone Mortgage Trust had a return on equity of 9.36% and a net margin of 50.60%. The firm had revenue of $105.15 million during the quarter, compared to analyst estimates of $97.06 million. During the same quarter in the prior year, the company earned $0.69 EPS. On average, analysts forecast that Blackstone Mortgage Trust Inc will post 2.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 7.06%. The ex-dividend date was Thursday, September 27th. Blackstone Mortgage Trust’s dividend payout ratio is currently 107.36%.
Several large investors have recently made changes to their positions in the company. Ahrens Investment Partners LLC bought a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $211,000. American International Group Inc. raised its position in shares of Blackstone Mortgage Trust by 11.4% in the 3rd quarter. American International Group Inc. now owns 74,200 shares of the real estate investment trust’s stock worth $2,486,000 after acquiring an additional 7,584 shares in the last quarter. Northeast Financial Consultants Inc bought a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $659,000. Commonwealth Bank of Australia bought a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $264,000. Finally, MML Investors Services LLC raised its position in shares of Blackstone Mortgage Trust by 22.5% in the 3rd quarter. MML Investors Services LLC now owns 7,921 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 1,456 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on BXMT. Zacks Investment Research cut Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a report on Monday, October 29th. TheStreet upgraded Blackstone Mortgage Trust from a “c+” rating to a “b+” rating in a report on Wednesday, October 31st. ValuEngine upgraded Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. BTIG Research began coverage on Blackstone Mortgage Trust in a report on Monday, October 8th. They issued a “neutral” rating for the company. Finally, Citigroup began coverage on Blackstone Mortgage Trust in a report on Friday, October 12th. They issued a “neutral” rating and a $33.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Blackstone Mortgage Trust presently has an average rating of “Hold” and an average price target of $34.75.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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