Blackstone Mortgage Trust (NYSE:BXMT) Hits New 12-Month Low – Time to Sell?

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $17.62 and last traded at $17.3760, with a volume of 1702514 shares trading hands. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

BXMT has been the subject of a number of research reports. Weiss Ratings downgraded Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. decreased their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group assumed coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Zacks Research cut shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Blackstone Mortgage Trust has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Blackstone Mortgage Trust Trading Up 0.3%

The company has a 50-day moving average price of $18.63 and a two-hundred day moving average price of $19.13. The stock has a market cap of $2.94 billion, a P/E ratio of 28.56 and a beta of 0.89.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 10.8%. Blackstone Mortgage Trust’s dividend payout ratio is currently 308.20%.

Insider Activity

In related news, President Fernando Austin Pena sold 1,666 shares of Blackstone Mortgage Trust stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total transaction of $31,454.08. Following the completion of the transaction, the president directly owned 76,967 shares of the company’s stock, valued at approximately $1,453,136.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BXMT. Elevation Point Wealth Partners LLC raised its holdings in shares of Blackstone Mortgage Trust by 2.2% in the fourth 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 during the period. Jones Financial Companies Lllp grew its position in Blackstone Mortgage Trust by 45.5% in the 1st 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 during the last quarter. Kennicott Capital Management LLC increased its stake in Blackstone Mortgage Trust by 2.6% in the fourth quarter. Kennicott Capital Management LLC now owns 36,450 shares of the real estate investment trust’s stock worth $697,000 after purchasing an additional 921 shares during the period. California Public Employees Retirement System increased its stake in Blackstone Mortgage Trust by 0.4% in the third quarter. California Public Employees Retirement System now owns 249,450 shares of the real estate investment trust’s stock worth $4,592,000 after purchasing an additional 976 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Blackstone Mortgage Trust by 19.8% during the fourth quarter. Sound Income Strategies LLC now owns 6,152 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 1,015 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.