Blackstone Mortgage Trust (NYSE:BXMT) Stock: Insider Henry Nassau Purchases 10,000 Shares

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Director Henry Nassau bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the purchase, the director directly owned 233,490 shares of the company’s stock, valued at $2,668,790.70. This trade represents a 4.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Blackstone Mortgage Trust Stock Down 2.6%

Shares of NYSE:BXMT opened at $11.15 on Friday. The company’s fifty day moving average is $11.97 and its 200 day moving average is $16.51. Blackstone Mortgage Trust, Inc. has a 52 week low of $10.11 and a 52 week high of $20.67. The stock has a market cap of $1.85 billion, a PE ratio of -5.00, a PEG ratio of 0.26 and a beta of 0.90.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.14. Blackstone Mortgage Trust had a positive return on equity of 9.17% and a negative net margin of 48.18%. The business had revenue of $141.90 million for the quarter, compared to the consensus estimate of $148.60 million. Sell-side analysts anticipate that Blackstone Mortgage Trust, Inc. will post 0.50 EPS for the current year.

Blackstone Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.30 dividend. This is a negative change from Blackstone Mortgage Trust’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 10.8%. Blackstone Mortgage Trust’s dividend payout ratio is currently -84.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Wall Street Zen raised Blackstone Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods dropped their target price on Blackstone Mortgage Trust from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Friday, October 30th. UBS Group dropped their price objective on shares of Blackstone Mortgage Trust from $21.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Zacks Research upgraded Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.00.

Institutional Trading of Blackstone Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the business. Condor Capital Management raised its holdings in Blackstone Mortgage Trust by 1.8% during the 3rd quarter. Condor Capital Management now owns 284,133 shares of the real estate investment trust’s stock worth $3,253,000 after purchasing an additional 4,945 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Blackstone Mortgage Trust by 53.8% in the third quarter. Maryland State Retirement & Pension System now owns 34,949 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 12,221 shares during the period. Csenge Advisory Group purchased a new position in Blackstone Mortgage Trust during the 3rd quarter worth $131,000. Fulcrum Asset Management LLP boosted its holdings in Blackstone Mortgage Trust by 193.1% in the 3rd quarter. Fulcrum Asset Management LLP now owns 4,894 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 3,224 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in Blackstone Mortgage Trust in the third quarter worth approximately $123,000. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.