Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $21.38 Average Target Price from Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.1250.

A number of research analysts have commented on the company. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a research report on Tuesday, February 10th. Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their price target on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday.

Insider Activity

In other news, President Fernando Austin Pena sold 1,666 shares of the 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 transaction, the president owned 76,967 shares of the company’s stock, valued at approximately $1,453,136.96. This represents a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $25,000. Jones Financial Companies Lllp raised its position in shares of Blackstone Mortgage Trust by 45.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 536 shares in the last quarter. ORG Partners LLC bought a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $41,000. Ascentis Independent Advisors bought a new position in shares of Blackstone Mortgage Trust in the 1st quarter worth approximately $41,000. Finally, UMB Bank n.a. raised its position in shares of Blackstone Mortgage Trust by 151.1% in the 4th quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 1,307 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Price Performance

BXMT opened at $19.08 on Friday. The business has a 50 day simple moving average of $19.28 and a two-hundred day simple moving average of $19.24. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 31.29 and a beta of 0.92. Blackstone Mortgage Trust has a one year low of $17.67 and a one year high of $20.67.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 9.9%. Blackstone Mortgage Trust’s dividend payout ratio is currently 308.20%.

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.