Zacks Investment Research upgraded shares of Capital Trust, Inc. (NYSE:BXMT) from a hold rating to a buy rating in a research note published on Monday. Zacks Investment Research currently has $36.00 price target on the real estate investment trust’s stock.
According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “
A number of other brokerages have also recently commented on BXMT. BidaskClub cut Capital Trust from a hold rating to a sell rating in a research report on Friday, September 8th. Keefe, Bruyette & Woods restated a buy rating and issued a $33.00 price target on shares of Capital Trust in a research report on Friday, September 15th. Finally, FBR & Co upped their price target on Capital Trust from $32.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Capital Trust presently has a consensus rating of Buy and a consensus target price of $34.00.
Shares of Capital Trust (NYSE:BXMT) traded down 0.485% during midday trading on Monday, reaching $31.835. The company had a trading volume of 495,647 shares. The stock has a market capitalization of $3.02 billion, a PE ratio of 13.687 and a beta of 0.73. Capital Trust has a 1-year low of $29.00 and a 1-year high of $32.47. The company’s 50-day moving average is $31.40 and its 200-day moving average is $31.19.
Capital Trust (NYSE:BXMT) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The company had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $74.35 million. Capital Trust had a return on equity of 8.63% and a net margin of 53.85%. Capital Trust’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, equities research analysts forecast that Capital Trust will post $2.54 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend was Thursday, September 28th. Capital Trust’s payout ratio is 110.22%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in shares of Capital Trust by 91.4% in the first quarter. Legal & General Group Plc now owns 16,665 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 7,957 shares during the period. BlackRock Inc. boosted its stake in shares of Capital Trust by 1,288,745.4% in the first quarter. BlackRock Inc. now owns 4,175,859 shares of the real estate investment trust’s stock worth $129,284,000 after acquiring an additional 4,175,535 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Capital Trust in the second quarter worth about $3,700,000. Advisors Capital Management LLC boosted its stake in shares of Capital Trust by 4.6% in the second quarter. Advisors Capital Management LLC now owns 883,247 shares of the real estate investment trust’s stock worth $27,911,000 after acquiring an additional 38,500 shares during the period. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of Capital Trust by 2.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 104,697 shares of the real estate investment trust’s stock worth $3,308,000 after acquiring an additional 2,220 shares during the period. 61.38% of the stock is owned by hedge funds and other institutional investors.
About Capital Trust
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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