Blackstone Mortgage Trust (NYSE:BXMT) Hits New 12-Month Low – Here’s What Happened

by · The Markets Daily

Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $16.51 and last traded at $16.74, with a volume of 1128179 shares traded. The stock had previously closed at $17.17.

Wall Street Analyst Weigh In

BXMT has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Blackstone Mortgage Trust from $17.50 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.75.

Get Our Latest Stock Analysis on BXMT

Blackstone Mortgage Trust Trading Up 0.5 %

The stock’s 50 day moving average price is $19.77 and its two-hundred day moving average price is $18.86. The firm has a market capitalization of $3.00 billion, a PE ratio of -14.95 and a beta of 1.22.

Blackstone Mortgage Trust (NYSE:BXMT – Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a yield of 10.75%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently -160.68%.

Insiders Place Their Bets

In other news, CEO Katharine A. Keenan sold 2,323 shares of the stock in a transaction dated 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 in the company, valued at $5,143,680.90. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 5,652 shares of company stock valued at $116,971 in the last quarter. 0.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its holdings in shares of Blackstone Mortgage Trust by 125.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,204 shares during the period. Huntington National Bank increased its position in Blackstone Mortgage Trust by 1,672.9% during the 4th quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 2,844 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Blackstone Mortgage Trust in the fourth quarter valued at approximately $56,000. McIlrath & Eck LLC purchased a new stake in Blackstone Mortgage Trust during the third quarter worth approximately $63,000. Finally, Sterling Capital Management LLC increased its position in shares of Blackstone Mortgage Trust by 814.9% in the fourth quarter. Sterling Capital Management LLC now owns 5,471 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 4,873 shares in the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

(Get Free Report)

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.

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