Compass Point started coverage on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage issued a neutral rating and a $36.00 target price on the real estate investment trust’s stock.
Separately, Zacks Investment Research downgraded Blackstone Mortgage Trust from a hold rating to a sell rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $36.83.
BXMT stock opened at $36.59 on Monday. The stock has a 50-day moving average price of $36.09 and a two-hundred day moving average price of $35.80. The stock has a market cap of $4.92 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 3.04 and a beta of 0.51. Blackstone Mortgage Trust has a 1 year low of $30.84 and a 1 year high of $36.77.
Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $101.92 million for the quarter, compared to analyst estimates of $105.80 million. Blackstone Mortgage Trust had a return on equity of 8.70% and a net margin of 39.30%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. On average, equities analysts expect that Blackstone Mortgage Trust will post 2.41 earnings per share for the current year.
In other news, EVP Douglas N. Armer sold 869 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.99, for a total transaction of $31,275.31. Following the completion of the transaction, the executive vice president now directly owns 69,048 shares in the company, valued at approximately $2,485,037.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Douglas N. Armer sold 915 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $35.92, for a total value of $32,866.80. Following the completion of the transaction, the executive vice president now owns 69,048 shares of the company’s stock, valued at approximately $2,480,204.16. The disclosure for this sale can be found here. Insiders sold 4,107 shares of company stock worth $147,020 over the last quarter. 0.95% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BXMT. Nuveen Asset Management LLC boosted its position in Blackstone Mortgage Trust by 174.6% during the second quarter. Nuveen Asset Management LLC now owns 1,895,306 shares of the real estate investment trust’s stock valued at $67,435,000 after purchasing an additional 1,205,022 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Blackstone Mortgage Trust by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 13,090,532 shares of the real estate investment trust’s stock worth $465,761,000 after purchasing an additional 902,257 shares in the last quarter. Capital Advisors Inc. OK boosted its holdings in shares of Blackstone Mortgage Trust by 323.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 280,840 shares of the real estate investment trust’s stock valued at $9,992,000 after buying an additional 214,489 shares during the last quarter. Laurion Capital Management LP boosted its holdings in shares of Blackstone Mortgage Trust by 340.1% in the 2nd quarter. Laurion Capital Management LP now owns 230,400 shares of the real estate investment trust’s stock valued at $8,198,000 after buying an additional 178,044 shares during the last quarter. Finally, Blackstone Group Inc grew its stake in shares of Blackstone Mortgage Trust by 3.0% in the second quarter. Blackstone Group Inc now owns 5,505,875 shares of the real estate investment trust’s stock valued at $195,899,000 after buying an additional 158,982 shares in the last quarter. 58.75% of the stock is currently owned by institutional investors and hedge funds.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. 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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