Blackstone Mortgage Trust (NYSE:BXMT) Hits New 1-Year Low – What’s Next?

by · The Markets Daily

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $13.58 and last traded at $13.6510, with a volume of 319818 shares changing hands. The stock had previously closed at $13.87.

Analysts Set New Price Targets

A number of research firms recently issued reports on BXMT. UBS Group began coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 2nd. They set a “buy” rating and a $21.00 price objective for the company. Weiss Ratings cut Blackstone Mortgage Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 31st. Wells Fargo & Company dropped their price objective on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Citigroup restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.20.

Read Our Latest Stock Report on Blackstone Mortgage Trust

Blackstone Mortgage Trust Price Performance

The firm has a market capitalization of $2.29 billion, a P/E ratio of 150.94, a PEG ratio of 0.32 and a beta of 0.90. The company has a fifty day moving average of $15.29 and a 200 day moving average of $17.54.

Blackstone Mortgage Trust (NYSE:BXMT – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10). Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%.The firm had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. On average, sell-side analysts forecast that Blackstone Mortgage Trust, Inc. will post 0.9 EPS for the current year.

Blackstone Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 13.8%. Blackstone Mortgage Trust’s dividend payout ratio is 2,088.89%.

Insider Activity

In other Blackstone Mortgage Trust news, President Fernando Pena sold 2,398 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $17.48, for a total value of $41,917.04. Following the completion of the sale, the president directly owned 74,569 shares in the company, valued at approximately $1,303,466.12. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Henry N. Nassau purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were acquired at an average price of $14.34 per share, for a total transaction of $143,400.00. Following the completion of the acquisition, the director directly owned 218,523 shares in the company, valued at approximately $3,133,619.82. This represents a 4.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 5,420 shares of company stock valued at $95,233. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northside Capital Management LLC bought a new stake in shares of Blackstone Mortgage Trust during the second quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its holdings in shares of 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 worth $34,000 after acquiring an additional 536 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Blackstone Mortgage Trust during the 2nd quarter worth approximately $39,000. Ascentis Independent Advisors bought a new position in shares of Blackstone Mortgage Trust in the first quarter valued at approximately $41,000. Finally, UMB Bank n.a. grew its holdings in Blackstone Mortgage Trust by 151.1% during the fourth quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 1,307 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

Blackstone Mortgage Trust Company Profile

(Get Free Report)

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.

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