Shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $33.33.
Several equities research analysts have issued reports on BXMT shares. Zacks Investment Research upgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Monday, October 30th. FBR & Co lifted their price target on shares of Blackstone Mortgage Trust from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. B. Riley reiterated a “buy” rating and issued a $33.00 price target on shares of Blackstone Mortgage Trust in a research note on Friday, December 1st. BidaskClub upgraded shares of Blackstone Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods lowered shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 7th.
Shares of Blackstone Mortgage Trust (BXMT) traded up $0.01 during mid-day trading on Friday, reaching $31.53. 497,455 shares of the company’s stock traded hands, compared to its average volume of 899,186. Blackstone Mortgage Trust has a 12-month low of $29.76 and a 12-month high of $33.08. The firm has a market cap of $3,330.00, a price-to-earnings ratio of 14.01 and a beta of 0.66.
Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. Blackstone Mortgage Trust had a net margin of 53.85% and a return on equity of 8.63%. The firm had revenue of $78.60 million for the quarter, compared to analyst estimates of $74.35 million. During the same period in the previous year, the business earned $0.71 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. equities research analysts predict that Blackstone Mortgage Trust will post 2.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.62 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.48 annualized dividend and a yield of 7.87%. Blackstone Mortgage Trust’s payout ratio is currently 110.22%.
In other news, Treasurer Douglas N. Armer sold 3,658 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $31.86, for a total transaction of $116,543.88. Following the transaction, the treasurer now directly owns 49,561 shares in the company, valued at approximately $1,579,013.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,070 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $31.95, for a total transaction of $34,186.50. Following the transaction, the chief financial officer now owns 15,504 shares in the company, valued at $495,352.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,516 shares of company stock worth $208,100 over the last 90 days. 0.91% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in BXMT. Janney Montgomery Scott LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth about $203,000. Cubist Systematic Strategies LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth about $284,000. KCS Wealth Advisory bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth about $298,000. First PREMIER Bank bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth about $332,000. Finally, SG Americas Securities LLC bought a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter worth about $422,000. Institutional investors own 54.28% of the company’s stock.
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Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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