TheStreet cut shares of Blackstone Mortgage Trust (NYSE:BXMT) from a b- rating to a c+ rating in a report released on Tuesday, TheStreetRatingsTable reports.
BXMT has been the subject of a number of other reports. Zacks Investment Research upgraded Blackstone Mortgage Trust from a sell rating to a hold rating in a report on Monday, February 17th. Bank of America began coverage on Blackstone Mortgage Trust in a report on Friday, December 6th. They issued a neutral rating and a $36.00 price objective for the company. Compass Point began coverage on Blackstone Mortgage Trust in a report on Monday, December 2nd. They issued a neutral rating and a $36.00 price objective for the company. Credit Suisse Group restated a hold rating and issued a $37.50 price objective on shares of Blackstone Mortgage Trust in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised shares of Blackstone Mortgage Trust from a neutral rating to an overweight rating and upped their price target for the company from $37.00 to $39.00 in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $33.58.
NYSE BXMT opened at $21.85 on Tuesday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.09 and a beta of 0.58. Blackstone Mortgage Trust has a twelve month low of $12.67 and a twelve month high of $40.62. The stock has a fifty day simple moving average of $33.56 and a 200 day simple moving average of $35.87.
Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.11. The business had revenue of $109.71 million during the quarter, compared to the consensus estimate of $106.10 million. Blackstone Mortgage Trust had a return on equity of 8.67% and a net margin of 39.60%. Sell-side analysts anticipate that Blackstone Mortgage Trust will post 2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.62 per share. The ex-dividend date is Monday, March 30th. This represents a $2.48 dividend on an annualized basis and a yield of 11.35%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 100.81%.
In other Blackstone Mortgage Trust news, EVP Douglas N. Armer sold 711 shares of the company’s stock in a transaction on Monday, February 10th. The shares were 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 $3,352,757.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 2,426 shares of company stock worth $90,232 in the last ninety days. Insiders own 0.95% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth about $53,670,000. Bessemer Group Inc. boosted its position in shares of Blackstone Mortgage Trust by 1,629.1% during the 4th quarter. Bessemer Group Inc. now owns 453,030 shares of the real estate investment trust’s stock worth $16,862,000 after purchasing an additional 426,830 shares in the last quarter. Blackstone Group Inc boosted its position in shares of Blackstone Mortgage Trust by 4.3% during the 4th quarter. Blackstone Group Inc now owns 5,740,206 shares of the real estate investment trust’s stock worth $213,650,000 after purchasing an additional 234,331 shares in the last quarter. PYA Waltman Capital LLC bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth about $6,757,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Blackstone Mortgage Trust by 124.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 248,364 shares of the real estate investment trust’s stock worth $8,904,000 after purchasing an additional 137,714 shares in the last quarter. 60.74% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Mortgage Trust Company Profile
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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