Blackstone Mortgage Trust (NYSE:BXMT) Hits New 12-Month Low – Here’s What Happened

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $17.67 and last traded at $17.8280, with a volume of 143286 shares traded. The stock had previously closed at $17.96.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BXMT shares. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone Mortgage Trust in a report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Keefe, Bruyette & Woods raised their price target on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Zacks Research cut Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of “Moderate Buy” and an average price target of $21.13.

Blackstone Mortgage Trust Price Performance

The business has a 50 day moving average of $19.03 and a 200 day moving average of $19.25. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 29.47 and a beta of 0.92.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.88 annualized dividend and a yield of 10.5%. Blackstone Mortgage Trust’s payout ratio is currently 308.20%.

Insiders Place Their Bets

In other news, President Fernando Austin Pena sold 1,666 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total value of $31,454.08. Following the sale, the president directly owned 76,967 shares in the company, valued at $1,453,136.96. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC bought a new stake in shares of Blackstone Mortgage Trust in the first quarter valued at about $286,000. Bank of America Corp DE lifted its holdings in shares of Blackstone Mortgage Trust by 21.9% in the first quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust’s stock valued at $24,839,000 after purchasing an additional 233,357 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Blackstone Mortgage Trust by 75.7% in the first quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust’s stock valued at $4,575,000 after purchasing an additional 102,904 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Blackstone Mortgage Trust by 14.1% in the first quarter. Arkadios Wealth Advisors now owns 14,874 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Blackstone Mortgage Trust by 30.1% in the first quarter. Amundi now owns 33,705 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 7,804 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

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.