Blackstone Mortgage Trust Rating Increased to Neutral at Zacks (BXMT)
Blackstone Mortgage Trust (NASDAQ:BXMT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday. The firm currently has a $29.60 price objective on the stock. Zacks‘s price objective suggests a potential upside of 2.53% from the company’s current price.
Blackstone Mortgage Trust (NASDAQ:BXMT) traded up 0.35% on Wednesday, hitting $28.97. The stock had a trading volume of 229,797 shares. Blackstone Mortgage Trust has a 1-year low of $23.89 and a 1-year high of $30.04. The stock’s 50-day moving average is $29.30 and its 200-day moving average is $28.51. The company has a market cap of $1.404 billion and a price-to-earnings ratio of 25.37.
Blackstone Mortgage Trust (NASDAQ:BXMT) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.42 by $0.08. Analysts expect that Blackstone Mortgage Trust will post $1.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Thursday, June 26th.
BXMT has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Blackstone Mortgage Trust in a research note on Wednesday, April 30th. They now have a $31.50 price target on the stock. Analysts at Bank of America reiterated a “neutral” rating on shares of Blackstone Mortgage Trust in a research note on Thursday, April 3rd. They now have a $30.00 price target on the stock, down previously from $32.00. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $29.07.
In other Blackstone Mortgage Trust news, Director Douglas N. Armer sold 1,066 shares of the company’s stock on the open market in a transaction dated Monday, June 30th. The shares were sold at an average price of $28.80, for a total value of $30,700.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Blackstone Mortgage Trust, Inc, formerly Capital Trust, Inc is a self-managed, real estate finance and investment management company that specializes in credit sensitive financial products.
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