Blackstone Mortgage Trust (NYSE:BXMT) Sees Strong Trading Volume – Should You Buy?
by Michael Walen · The Markets DailyBlackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,563,556 shares changed hands during trading, an increase of 10% from the previous session’s volume of 1,425,470 shares.The stock last traded at $19.2240 and had previously closed at $19.19.
Analysts Set New Price Targets
BXMT has been the subject of several analyst reports. BTIG Research reiterated a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Zacks Research upgraded Blackstone Mortgage Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on Blackstone Mortgage Trust from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Moderate Buy” and an average price target of $21.13.
Read Our Latest Analysis on Blackstone Mortgage Trust
Blackstone Mortgage Trust Price Performance
The business’s fifty day moving average is $19.30 and its 200-day moving average is $19.15. The firm has a market cap of $3.24 billion, a PE ratio of 29.55 and a beta of 1.06.
Blackstone Mortgage Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 9.8%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 289.23%.
Insider Activity at Blackstone Mortgage Trust
In related news, President Fernando Austin Pena sold 3,131 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $19.24, for a total value of $60,240.44. Following the transaction, the president owned 78,633 shares in the company, valued at approximately $1,512,898.92. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.02% of the company’s stock.
Institutional Trading of Blackstone Mortgage Trust
A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $38,239,000. Bamco Inc. NY raised its stake 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 during the period. UBS Group AG raised its stake 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 during the period. Invesco Ltd. lifted its holdings in Blackstone Mortgage Trust by 70.8% during the third quarter. Invesco Ltd. now owns 1,077,590 shares of the real estate investment trust’s stock valued at $19,838,000 after purchasing an additional 446,838 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Blackstone Mortgage Trust during the fourth quarter worth about $7,733,000. 64.15% of the stock is owned by hedge funds and other institutional investors.
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.