Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.1250.

Several analysts have issued reports on BXMT shares. Keefe, Bruyette & Woods upped their price target on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. BTIG Research reissued a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a research report on Tuesday, February 10th. Zacks Research upgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a report on Monday, December 29th.

Insider Activity

In other news, President Fernando Austin Pena sold 1,666 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total value of $31,454.08. Following the completion of the sale, the president directly owned 76,967 shares of the company’s stock, valued at $1,453,136.96. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Large investors have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC lifted its holdings in Blackstone Mortgage Trust by 2.2% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 24,602 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 525 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Blackstone Mortgage Trust by 45.5% during the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 536 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Blackstone Mortgage Trust by 1.4% during the third quarter. Arizona State Retirement System now owns 48,234 shares of the real estate investment trust’s stock worth $888,000 after buying an additional 660 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Blackstone Mortgage Trust by 36.0% in the third quarter. GAMMA Investing LLC now owns 2,926 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 775 shares during the period. Finally, Naples Global Advisors LLC grew its stake in shares of Blackstone Mortgage Trust by 4.3% in the third quarter. Naples Global Advisors LLC now owns 19,475 shares of the real estate investment trust’s stock valued at $361,000 after acquiring an additional 800 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

Blackstone Mortgage Trust Trading Down 0.0%

Shares of BXMT stock opened at $18.67 on Wednesday. Blackstone Mortgage Trust has a 1 year low of $16.51 and a 1 year high of $20.67. The firm’s fifty day moving average price is $19.24 and its two-hundred day moving average price is $19.11. The firm has a market capitalization of $3.15 billion, a P/E ratio of 28.73 and a beta of 1.00.

Blackstone Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.47 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.88 annualized dividend and a yield of 10.1%. Blackstone Mortgage Trust’s dividend payout ratio is currently 289.23%.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.