Brokerages Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Target Price at $20.83

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been assigned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.29.

A number of research analysts recently weighed in on BXMT shares. BTIG Research reduced their target price on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday. Bank of America cut Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $21.00 in a report on Monday, March 4th. Wells Fargo & Company reduced their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, UBS Group reduced their target price on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday.

Blackstone Mortgage Trust Stock Down 3.3 %

Shares of NYSE:BXMT opened at $17.65 on Tuesday. The company has a market cap of $3.07 billion, a P/E ratio of 12.52 and a beta of 1.42. Blackstone Mortgage Trust has a 52 week low of $16.83 and a 52 week high of $23.82. The business has a fifty day simple moving average of $19.51 and a 200-day simple moving average of $20.60.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 14.05%. The ex-dividend date was Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio is presently 175.89%.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at $3,967,565.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock worth $112,642 over the last quarter. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Blackstone Mortgage Trust by 15.3% in the third quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock worth $405,492,000 after acquiring an additional 2,470,412 shares in the last quarter. Blackstone Inc. increased its holdings in Blackstone Mortgage Trust by 9.5% in the fourth quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust’s stock valued at $169,074,000 after buying an additional 686,881 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Blackstone Mortgage Trust by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,531,729 shares of the real estate investment trust’s stock valued at $53,850,000 after buying an additional 106,670 shares during the last quarter. Northern Trust Corp increased its holdings in Blackstone Mortgage Trust by 22.7% in the third quarter. Northern Trust Corp now owns 2,218,838 shares of the real estate investment trust’s stock valued at $48,260,000 after buying an additional 410,722 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Blackstone Mortgage Trust by 45.5% in the third quarter. Ameriprise Financial Inc. now owns 2,141,173 shares of the real estate investment trust’s stock valued at $46,578,000 after buying an additional 669,172 shares during the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.