Keefe, Bruyette & Woods Cuts Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $18.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price target decreased by Keefe, Bruyette & Woods from $19.00 to $18.50 in a research report report published on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on BXMT. Wells Fargo & Company raised their target price on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.14.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE:BXMT opened at $18.31 on Tuesday. The company has a market capitalization of $3.17 billion, a P/E ratio of -13.17 and a beta of 1.50. The company’s 50-day moving average is $18.39 and its 200 day moving average is $18.37. Blackstone Mortgage Trust has a fifty-two week low of $16.53 and a fifty-two week high of $21.50.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 10.27%. The ex-dividend date of this dividend was Tuesday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio is currently -135.25%.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in shares of Blackstone Mortgage Trust during the third quarter valued at approximately $39,000. McIlrath & Eck LLC purchased a new position in Blackstone Mortgage Trust during the third quarter worth approximately $63,000. Future Financial Wealth Managment LLC purchased a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth $95,000. Diversify Advisory Services LLC acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at $172,000. Finally, Sei Investments Co. purchased a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at approximately $184,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone Mortgage Trust

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.