B. Riley Research Analysts Cut Earnings Estimates for Blackstone Mortgage Trust Inc (BXMT)
Blackstone Mortgage Trust Inc (NYSE:BXMT) – Research analysts at B. Riley dropped their FY2017 EPS estimates for Blackstone Mortgage Trust in a research note issued to investors on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the real estate investment trust will post earnings of $2.22 per share for the year, down from their prior forecast of $2.27. B. Riley currently has a “Buy” rating and a $33.00 price target on the stock. B. Riley also issued estimates for Blackstone Mortgage Trust’s Q4 2017 earnings at $0.52 EPS, Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.62 EPS and FY2018 earnings at $2.33 EPS.
Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Thursday, December 7th. Wells Fargo & Co began coverage on Blackstone Mortgage Trust in a report on Wednesday, December 6th. They set an “outperform” rating for the company. FBR & Co boosted their price objective on Blackstone Mortgage Trust from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Monday, October 30th. Finally, BidaskClub raised Blackstone Mortgage Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Blackstone Mortgage Trust has an average rating of “Buy” and an average target price of $33.80.
Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results 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. Blackstone Mortgage Trust had a return on equity of 8.63% and a net margin of 53.85%. The business had revenue of $78.60 million during the quarter, compared to analyst estimates of $74.35 million. During the same period in the previous year, the company posted $0.71 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend is Thursday, December 28th. Blackstone Mortgage Trust’s dividend payout ratio is currently 110.22%.
In other news, Treasurer Douglas N. Armer sold 3,658 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $31.86, for a total value of $116,543.88. Following the completion of the transaction, the treasurer now directly owns 49,561 shares of the company’s stock, valued at $1,579,013.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony F. Marone, Jr. sold 1,070 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $31.95, for a total value of $34,186.50. Following the completion of the transaction, the chief financial officer now directly owns 15,504 shares of the company’s stock, valued at $495,352.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,516 shares of company stock valued at $208,100 over the last three months. Corporate insiders own 0.91% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BXMT. Janney Montgomery Scott LLC bought a new position in shares of Blackstone Mortgage Trust in the third quarter valued at approximately $203,000. Cubist Systematic Strategies LLC bought a new position in shares of Blackstone Mortgage Trust in the third quarter valued at approximately $284,000. KCS Wealth Advisory purchased a new position in Blackstone Mortgage Trust in the fourth quarter valued at approximately $298,000. First PREMIER Bank purchased a new position in Blackstone Mortgage Trust in the fourth quarter valued at approximately $332,000. Finally, SG Americas Securities LLC purchased a new position in Blackstone Mortgage Trust in the third quarter valued at approximately $422,000. 54.10% of the stock is owned by institutional investors.
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Blackstone Mortgage Trust Company Profile
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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