Blackstone Mortgage Trust (NYSE:BXMT) PT Lowered to $17.50 at JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) had its price target trimmed by JPMorgan Chase & Co. from $18.50 to $17.50 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. 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 research report on Wednesday, April 17th. Wells Fargo & Company dropped their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday. Bank of America downgraded Blackstone Mortgage Trust from a buy rating to a neutral rating and dropped their price target for the company from $22.00 to $21.00 in a research note on Monday, March 4th. UBS Group dropped their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a neutral rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating on the stock in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $19.93.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT opened at $17.91 on Thursday. The business’s 50-day moving average is $19.47 and its 200 day moving average is $20.57. Blackstone Mortgage Trust has a 1 year low of $16.83 and a 1 year high of $23.82. The firm has a market capitalization of $3.11 billion, a P/E ratio of 597.00 and a beta of 1.42.

Blackstone Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.62 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.85%. Blackstone Mortgage Trust’s payout ratio is 8,266.67%.

Insider Buying and Selling

In related news, CEO Katharine A. Keenan sold 2,275 shares of the company’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 of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,540 shares of company stock valued at $112,642. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently made changes to their positions in BXMT. Vanguard Group Inc. increased its holdings 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 valued at $405,492,000 after purchasing an additional 2,470,412 shares during the last quarter. Norges Bank purchased a new position in Blackstone Mortgage Trust in the fourth quarter worth approximately $38,747,000. Principal Financial Group Inc. grew its position in Blackstone Mortgage Trust by 4,968.8% in the third quarter. Principal Financial Group Inc. now owns 928,149 shares of the real estate investment trust’s stock worth $20,187,000 after acquiring an additional 909,838 shares during the period. Blackstone Inc. grew its position 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 worth $169,074,000 after acquiring an additional 686,881 shares during the period. Finally, Ameriprise Financial Inc. grew its position 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 worth $46,578,000 after acquiring an additional 669,172 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.