Blackstone Mortgage Trust (NYSE:BXMT) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a hold rating to a buy rating in a research note issued to investors on Monday, ValuEngine reports.

Separately, Zacks Investment Research lowered First Merchants from a hold rating to a sell rating in a research note on Monday, July 1st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $35.63.

Shares of NYSE BXMT opened at $36.02 on Monday. The company has a fifty day moving average price of $35.95. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. Blackstone Mortgage Trust has a one year low of $30.84 and a one year high of $36.77.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $106.07 million during the quarter, compared to analyst estimates of $98.89 million. Blackstone Mortgage Trust had a return on equity of 9.73% and a net margin of 48.22%. During the same period in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts forecast that Blackstone Mortgage Trust will post 2.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.62 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 6.89%. Blackstone Mortgage Trust’s payout ratio is 93.58%.

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 793 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $35.45, for a total value of $28,111.85. Following the sale, the chief financial officer now directly owns 29,824 shares in the company, valued at $1,057,260.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Douglas N. Armer sold 1,913 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $35.46, for a total value of $67,834.98. Following the completion of the sale, the treasurer now owns 74,383 shares in the company, valued at $2,637,621.18. The disclosure for this sale can be found here. Insiders sold 4,073 shares of company stock valued at $145,310 over the last 90 days. 0.95% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Pecaut & CO. grew its holdings in shares of Blackstone Mortgage Trust by 4.3% during the first quarter. Pecaut & CO. now owns 8,097 shares of the real estate investment trust’s stock worth $999,000 after purchasing an additional 332 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Blackstone Mortgage Trust by 4.0% during the first quarter. Virtu Financial LLC now owns 9,556 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 367 shares during the last quarter. Regentatlantic Capital LLC grew its holdings in shares of Blackstone Mortgage Trust by 1.8% during the first quarter. Regentatlantic Capital LLC now owns 21,085 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 373 shares during the last quarter. Bridgecreek Investment Management LLC grew its holdings in shares of Blackstone Mortgage Trust by 0.5% during the first quarter. Bridgecreek Investment Management LLC now owns 83,950 shares of the real estate investment trust’s stock worth $2,901,000 after purchasing an additional 425 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its holdings in shares of Blackstone Mortgage Trust by 1.0% during the first quarter. Stanley Laman Group Ltd. now owns 48,238 shares of the real estate investment trust’s stock worth $1,667,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. 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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