Shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.20.
Several research firms have weighed in on BXMT. Credit Suisse Group upped their price target on Blackstone Mortgage Trust from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 21st. BTIG Research began coverage on Blackstone Mortgage Trust in a research note on Monday, October 8th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Tuesday, August 14th. Finally, Citigroup began coverage on Blackstone Mortgage Trust in a research report on Friday, October 12th. They set a “neutral” rating and a $33.00 target price for the company.
BXMT stock opened at $32.84 on Friday. Blackstone Mortgage Trust has a 1-year low of $29.51 and a 1-year high of $34.58. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.47.
Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.24. Blackstone Mortgage Trust had a return on equity of 9.24% and a net margin of 49.22%. The business had revenue of $103.75 million during the quarter, compared to the consensus estimate of $89.07 million. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. On average, equities analysts anticipate that Blackstone Mortgage Trust will post 2.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.55%. Blackstone Mortgage Trust’s dividend payout ratio is currently 107.36%.
In other news, Treasurer Douglas N. Armer sold 803 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $34.00, for a total transaction of $27,302.00. Following the completion of the transaction, the treasurer now directly owns 62,196 shares in the company, valued at approximately $2,114,664. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 2,253 shares of company stock valued at $75,462 over the last quarter. Corporate insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its position in Blackstone Mortgage Trust by 95.7% in the third quarter. Xact Kapitalforvaltning AB now owns 16,151 shares of the real estate investment trust’s stock worth $541,000 after buying an additional 7,900 shares during the last quarter. Private Capital Advisors Inc. lifted its position in Blackstone Mortgage Trust by 17.4% in the third quarter. Private Capital Advisors Inc. now owns 188,115 shares of the real estate investment trust’s stock worth $6,304,000 after buying an additional 27,827 shares during the last quarter. Bank of Montreal Can lifted its position in Blackstone Mortgage Trust by 136.9% in the third quarter. Bank of Montreal Can now owns 134,367 shares of the real estate investment trust’s stock worth $4,503,000 after buying an additional 77,641 shares during the last quarter. Kovack Advisors Inc. lifted its position in Blackstone Mortgage Trust by 35.0% in the third quarter. Kovack Advisors Inc. now owns 29,135 shares of the real estate investment trust’s stock worth $976,000 after buying an additional 7,550 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its position in Blackstone Mortgage Trust by 3.5% in the third quarter. Neville Rodie & Shaw Inc. now owns 284,190 shares of the real estate investment trust’s stock worth $9,523,000 after buying an additional 9,539 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. 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.
Read More: Using the New Google Finance Tool
Receive News & Ratings for Blackstone Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.