Blackstone Mortgage Trust (NYSE:BXMT) Given Hold Rating at Credit Suisse Group

Credit Suisse Group reaffirmed their hold rating on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research note issued to investors on Thursday morning, AnalystRatings.com reports. They currently have a $37.50 target price on the real estate investment trust’s stock.

Several other research firms also recently issued reports on BXMT. Compass Point assumed coverage on shares of Blackstone Mortgage Trust in a research note on Monday, December 2nd. They issued a neutral rating and a $36.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Blackstone Mortgage Trust from a neutral rating to an overweight rating and upped their price objective for the company from $37.00 to $39.00 in a research note on Wednesday, January 29th. Zacks Investment Research downgraded shares of Blackstone Mortgage Trust from a hold rating to a sell rating in a research note on Thursday, January 23rd. Finally, Bank of America initiated coverage on shares of Blackstone Mortgage Trust in a research note on Friday, December 6th. They issued a neutral rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $37.70.

Shares of BXMT stock traded up $0.02 on Thursday, reaching $40.03. 1,091,331 shares of the stock were exchanged, compared to its average volume of 982,622. The business’s 50 day moving average price is $37.92 and its 200 day moving average price is $36.44. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.31 and a beta of 0.52. Blackstone Mortgage Trust has a twelve month low of $33.47 and a twelve month high of $40.22.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. Blackstone Mortgage Trust had a net margin of 39.30% and a return on equity of 8.70%. The company had revenue of $109.71 million during the quarter, compared to the consensus estimate of $106.10 million. On average, sell-side analysts anticipate that Blackstone Mortgage Trust will post 2.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.62 per share. The ex-dividend date was Monday, December 30th. This represents a $2.48 annualized dividend and a dividend yield of 6.20%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 93.58%.

In other news, EVP Douglas N. Armer sold 801 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.81, for a total transaction of $29,484.81. Following the completion of the sale, the executive vice president now owns 86,878 shares in the company, valued at $3,197,979.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas N. Armer sold 711 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $38.91, for a total transaction of $27,665.01. Following the sale, the executive vice president now owns 86,167 shares of the company’s stock, valued at approximately $3,352,757.97. The disclosure for this sale can be found here. Insiders have sold 2,607 shares of company stock valued at $98,685 in the last quarter. Insiders own 0.95% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ahrens Investment Partners LLC increased its holdings in Blackstone Mortgage Trust by 3.5% in the fourth quarter. Ahrens Investment Partners LLC now owns 7,450 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 250 shares in the last quarter. Ellis Investment Partners LLC increased its holdings in Blackstone Mortgage Trust by 0.4% in the fourth quarter. Ellis Investment Partners LLC now owns 67,497 shares of the real estate investment trust’s stock valued at $2,510,000 after buying an additional 273 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in Blackstone Mortgage Trust by 5.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 8,084 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 393 shares in the last quarter. Ausdal Financial Partners Inc. increased its holdings in Blackstone Mortgage Trust by 2.9% in the third quarter. Ausdal Financial Partners Inc. now owns 14,160 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 400 shares in the last quarter. Finally, Comerica Bank increased its holdings in Blackstone Mortgage Trust by 2.1% in the third quarter. Comerica Bank now owns 20,790 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 437 shares in the last quarter. 58.71% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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