ValuEngine lowered shares of Blackstone Mortgage Trust (NYSE:BXMT) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.
Separately, Zacks Investment Research raised shares of Blackstone Mortgage Trust from a sell rating to a hold rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $35.63.
BXMT stock traded down $0.18 during trading hours on Thursday, reaching $35.18. The stock had a trading volume of 30,441 shares, compared to its average volume of 934,793. The company has a market capitalization of $4.71 billion, a PE ratio of 13.21, a PEG ratio of 2.87 and a beta of 0.52. The company’s 50-day moving average is $35.80. Blackstone Mortgage Trust has a fifty-two week low of $30.84 and a fifty-two week high of $36.77.
Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The company had revenue of $106.48 million for the quarter, compared to analyst estimates of $103.55 million. Blackstone Mortgage Trust had a net margin of 46.31% and a return on equity of 9.06%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, equities research analysts forecast that Blackstone Mortgage Trust will post 2.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 7.05%. The ex-dividend date of this dividend was Thursday, June 27th. Blackstone Mortgage Trust’s payout ratio is presently 93.58%.
In other news, CFO Anthony F. Marone, Jr. sold 793 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $35.45, for a total value of $28,111.85. Following the transaction, the chief financial officer now directly owns 29,824 shares of the company’s stock, valued at $1,057,260.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Douglas N. Armer sold 1,913 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $35.46, for a total transaction of $67,834.98. Following the completion of the transaction, the treasurer now directly 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 worth $145,310 over the last three months. Insiders own 0.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can raised its stake in shares of Blackstone Mortgage Trust by 38.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 13,842 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 3,841 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $1,588,000. Legal & General Group Plc raised its stake in shares of Blackstone Mortgage Trust by 12.7% during the fourth quarter. Legal & General Group Plc now owns 76,015 shares of the real estate investment trust’s stock worth $2,422,000 after buying an additional 8,572 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Blackstone Mortgage Trust by 72.0% during the fourth quarter. Advisory Services Network LLC now owns 1,175 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 492 shares during the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $5,830,000. 55.17% of the stock is currently owned by institutional investors and hedge funds.
About Blackstone Mortgage Trust
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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