Blackstone Mortgage Trust (NYSE:BXMT) Price Target Raised to $20.50 at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its target price lifted by Keefe, Bruyette & Woods from $19.50 to $20.50 in a research report report published on Monday,Benzinga reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group boosted their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $20.83.

Blackstone Mortgage Trust Trading Up 0.9 %

BXMT stock opened at $20.04 on Monday. The firm’s 50-day moving average is $19.68 and its two-hundred day moving average is $18.95. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -17.12 and a beta of 1.52. Blackstone Mortgage Trust has a 52 week low of $16.53 and a 52 week high of $21.24.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a positive return on equity of 8.62% and a negative net margin of 11.54%. On average, equities research analysts predict that Blackstone Mortgage Trust will post 1.65 earnings per share for the current year.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.47 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 9.38%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently -160.68%.

Insider Activity

In related news, CEO Katharine A. Keenan sold 2,323 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.70, for a total transaction of $48,086.10. Following the transaction, the chief executive officer now directly owns 248,487 shares of the company’s stock, valued at approximately $5,143,680.90. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 5,652 shares of company stock worth $116,971. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of BXMT. FMR LLC grew its stake in Blackstone Mortgage Trust by 11.4% in the third quarter. FMR LLC now owns 17,812 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 1,827 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Blackstone Mortgage Trust by 1.4% in the third quarter. Rockefeller Capital Management L.P. now owns 595,425 shares of the real estate investment trust’s stock worth $11,319,000 after buying an additional 8,444 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Blackstone Mortgage Trust in the third quarter valued at approximately $196,000. Atom Investors LP bought a new stake in Blackstone Mortgage Trust in the third quarter worth approximately $410,000. Finally, Centiva Capital LP raised its holdings in shares of Blackstone Mortgage Trust by 405.5% during the 3rd quarter. Centiva Capital LP now owns 60,128 shares of the real estate investment trust’s stock valued at $1,143,000 after purchasing an additional 79,809 shares in the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.