Blackstone Mortgage Trust (NYSE:BXMT) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.28 and traded as low as $18.09. Blackstone Mortgage Trust shares last traded at $18.2520, with a volume of 1,184,115 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone Mortgage Trust in a report on Monday, May 11th. Keefe, Bruyette & Woods increased their price objective on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a report on Thursday, February 12th. BTIG Research restated a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Zacks Research downgraded Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.13.

Blackstone Mortgage Trust Stock Performance

The company has a 50 day moving average price of $19.13 and a 200 day moving average price of $19.28. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 29.92 and a beta of 0.92.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.47 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 10.3%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 308.20%.

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 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 completion of the sale, the president directly owned 76,967 shares in the company, valued at $1,453,136.96. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

Several large investors have recently made changes to their positions in BXMT. Norges Bank acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at about $38,239,000. Bamco Inc. NY lifted its position in Blackstone Mortgage Trust by 1,498.1% in the 2nd quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust’s stock valued at $30,696,000 after acquiring an additional 1,494,830 shares in the last quarter. UBS Group AG lifted its position in Blackstone Mortgage Trust by 24.4% in the 3rd quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust’s stock valued at $56,740,000 after acquiring an additional 603,588 shares in the last quarter. Invesco Ltd. lifted its position in Blackstone Mortgage Trust by 70.8% in the 3rd quarter. Invesco Ltd. now owns 1,077,590 shares of the real estate investment trust’s stock valued at $19,838,000 after acquiring an additional 446,838 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Blackstone Mortgage Trust in the 4th quarter valued at about $7,733,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

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.