Blackstone Mortgage Trust (NYSE:BXMT) Reaches New 12-Month Low at $16.73

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMTGet Free Report) hit a new 52-week low on Wednesday . The company traded as low as $16.73 and last traded at $16.74, with a volume of 220466 shares changing hands. The stock had previously closed at $17.18.

Analyst Ratings Changes

Several research firms recently weighed in on BXMT. Keefe, Bruyette & Woods reduced their target price on Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Wells Fargo & Company reduced their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, April 25th. BTIG Research decreased their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, UBS Group dropped their price target on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.93.

View Our Latest Stock Analysis on Blackstone Mortgage Trust

Blackstone Mortgage Trust Trading Down 2.4 %

The stock has a market cap of $2.91 billion, a P/E ratio of 572.33 and a beta of 1.44. The business’s fifty day simple moving average is $18.59 and its 200 day simple moving average is $20.12.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a yield of 14.80%. Blackstone Mortgage Trust’s payout ratio is presently 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now directly owns 192,023 shares in the company, valued at approximately $3,888,465.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Katharine A. Keenan sold 2,274 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,540 shares of company stock worth $112,642. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Large investors have recently made changes to their positions in the stock. Strategic Advisors LLC boosted its stake in Blackstone Mortgage Trust by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock worth $1,772,000 after purchasing an additional 500 shares during the period. Arizona State Retirement System boosted its position in shares of Blackstone Mortgage Trust by 1.4% during the third quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock worth $1,014,000 after buying an additional 630 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Blackstone Mortgage Trust by 5.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 13,000 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 700 shares in the last quarter. Brown Advisory Inc. raised its position in Blackstone Mortgage Trust by 7.0% in the 4th quarter. Brown Advisory Inc. now owns 11,136 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 727 shares during the last quarter. Finally, Sowell Financial Services LLC lifted its stake in Blackstone Mortgage Trust by 1.6% in the 3rd quarter. Sowell Financial Services LLC now owns 50,391 shares of the real estate investment trust’s stock valued at $1,127,000 after acquiring an additional 816 shares in the last quarter. Institutional investors 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.

Further Reading

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