Blackstone Mortgage Trust (NYSE:BXMT) Hits New 52-Week Low – What’s Next?

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $16.39 and last traded at $16.4250, with a volume of 538561 shares traded. The stock had previously closed at $16.64.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BXMT shares. UBS Group began coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 2nd. They set a “buy” rating and a $21.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Zacks Research cut shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings lowered shares of Blackstone Mortgage Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods cut their price target on Blackstone Mortgage Trust from $20.50 to $20.00 and set an “outperform” rating for the company in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Blackstone Mortgage Trust has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Blackstone Mortgage Trust Price Performance

The business’s 50 day moving average price is $17.60 and its 200 day moving average price is $18.68. The firm has a market cap of $2.77 billion, a PE ratio of 26.92 and a beta of 0.90.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.4%. Blackstone Mortgage Trust’s dividend payout ratio is presently 308.20%.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 2,398 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $17.48, for a total value of $41,917.04. Following the sale, the president directly owned 74,569 shares of the company’s stock, valued at $1,303,466.12. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,420 shares of company stock valued at $95,233 in the last quarter. Company insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew 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. ORG Partners LLC purchased a new stake in Blackstone Mortgage Trust during the 4th quarter valued at about $41,000. Ascentis Independent Advisors acquired a new stake in Blackstone Mortgage Trust in the 1st quarter valued at about $41,000. UMB Bank n.a. raised its holdings in 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 valued at $42,000 after acquiring an additional 1,307 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Blackstone Mortgage Trust in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.