Blackstone Mortgage Trust (BXMT) Upgraded at TheStreet

TheStreet upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a c+ rating to a b+ rating in a report released on Wednesday morning.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Blackstone Mortgage Trust from a buy rating to a hold rating in a research note on Monday, October 29th. ValuEngine upgraded shares of Blackstone Mortgage Trust from a hold rating to a buy rating in a research note on Wednesday, October 24th. Citigroup assumed coverage on shares of Blackstone Mortgage Trust in a research note on Friday, October 12th. They issued a neutral rating and a $33.00 price target for the company. BTIG Research assumed coverage on shares of Blackstone Mortgage Trust in a research note on Monday, October 8th. They issued a neutral rating for the company. Finally, Credit Suisse Group lifted their price target on shares of Blackstone Mortgage Trust from $33.00 to $35.00 and gave the stock an outperform rating in a research note on Tuesday, August 21st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $34.75.

Shares of BXMT stock opened at $34.17 on Wednesday. The company has a market capitalization of $4.04 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.46. Blackstone Mortgage Trust has a fifty-two week low of $29.51 and a fifty-two week high of $34.58.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Blackstone Mortgage Trust had a net margin of 50.60% and a return on equity of 9.36%. The firm had revenue of $105.15 million during the quarter, compared to analysts’ expectations of $97.06 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. Research analysts expect that Blackstone Mortgage Trust will post 2.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.48 dividend on an annualized basis and a yield of 7.26%. Blackstone Mortgage Trust’s dividend payout ratio is currently 107.36%.

In related news, Treasurer Douglas N. Armer sold 803 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $34.00, for a total value of $27,302.00. Following the completion of the transaction, the treasurer now owns 62,196 shares in the company, valued at $2,114,664. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leonard W. Cotton purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average price of $33.87 per share, with a total value of $101,610.00. Following the purchase, the director now directly owns 19,074 shares of the company’s stock, valued at $646,036.38. The disclosure for this purchase can be found here. Insiders sold 2,253 shares of company stock valued at $75,462 in the last quarter. 0.96% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Roble Belko & Company Inc lifted its position in shares of Blackstone Mortgage Trust by 2.7% during the 2nd quarter. Roble Belko & Company Inc now owns 68,005 shares of the real estate investment trust’s stock worth $2,137,000 after buying an additional 1,769 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Blackstone Mortgage Trust by 0.8% during the 2nd quarter. Chartwell Investment Partners LLC now owns 257,470 shares of the real estate investment trust’s stock worth $8,093,000 after buying an additional 1,985 shares during the last quarter. Naples Global Advisors LLC lifted its position in shares of Blackstone Mortgage Trust by 8.8% during the 2nd quarter. Naples Global Advisors LLC now owns 25,562 shares of the real estate investment trust’s stock worth $803,000 after buying an additional 2,070 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its position in shares of Blackstone Mortgage Trust by 22.9% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 12,016 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 2,240 shares during the last quarter. Finally, Pekin Singer Strauss Asset Management IL lifted its position in shares of Blackstone Mortgage Trust by 3.6% during the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 69,383 shares of the real estate investment trust’s stock worth $2,181,000 after buying an additional 2,395 shares during the last quarter. Institutional investors and hedge funds own 62.10% 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.

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Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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