Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives $21.13 Consensus Target Price from Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $21.1250.

Several research analysts have commented on BXMT shares. BTIG Research restated a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research report on Tuesday, February 10th. Zacks Research upgraded Blackstone Mortgage Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their target price on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a research report on Thursday, February 12th.

Blackstone Mortgage Trust Stock Down 0.0%

BXMT stock opened at $18.67 on Wednesday. The stock has a market cap of $3.15 billion, a PE ratio of 28.73 and a beta of 1.00. The firm’s 50-day simple moving average is $19.24 and its 200 day simple moving average is $19.11. Blackstone Mortgage Trust has a fifty-two week low of $16.51 and a fifty-two week high of $20.67.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 10.1%. Blackstone Mortgage Trust’s dividend payout ratio is presently 289.23%.

Insider Activity at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 1,666 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total transaction of $31,454.08. Following the transaction, the president directly owned 76,967 shares of the company’s stock, valued at approximately $1,453,136.96. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Elevation Point Wealth Partners LLC raised its position in shares of Blackstone Mortgage Trust by 2.2% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 24,602 shares of the real estate investment trust’s stock worth $482,000 after buying an additional 525 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 536 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Blackstone Mortgage Trust by 1.4% in the third quarter. Arizona State Retirement System now owns 48,234 shares of the real estate investment trust’s stock valued at $888,000 after acquiring an additional 660 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Blackstone Mortgage Trust by 36.0% during the third quarter. GAMMA Investing LLC now owns 2,926 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 775 shares during the period. Finally, Naples Global Advisors LLC increased its stake in shares of Blackstone Mortgage Trust by 4.3% during the third quarter. Naples Global Advisors LLC now owns 19,475 shares of the real estate investment trust’s stock valued at $361,000 after acquiring an additional 800 shares during the period. Institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.