Blackstone Mortgage Trust Inc (NYSE:BXMT) has been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $33.33.
Several research firms recently weighed in on BXMT. B. Riley reissued a “buy” rating and set a $33.00 price target on shares of Blackstone Mortgage Trust in a research report on Friday, December 1st. Keefe, Bruyette & Woods lowered Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 7th. Wells Fargo & Co started coverage on Blackstone Mortgage Trust in a research report on Wednesday, December 6th. They issued an “outperform” rating on the stock. FBR & Co upped their target price on Blackstone Mortgage Trust from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, October 30th.
Blackstone Mortgage Trust (NYSE:BXMT) opened at $31.41 on Friday. The firm has a market capitalization of $3,333.63, a price-to-earnings ratio of 13.96 and a beta of 0.66. Blackstone Mortgage Trust has a 52-week low of $29.76 and a 52-week high of $33.08.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 7.90%. The ex-dividend date was Thursday, December 28th. Blackstone Mortgage Trust’s payout ratio is currently 110.22%.
In other news, Treasurer Douglas N. Armer sold 3,658 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $31.86, for a total transaction of $116,543.88. Following the transaction, the treasurer now owns 49,561 shares of the company’s stock, valued at approximately $1,579,013.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony F. Marone, Jr. sold 1,070 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $31.95, for a total value of $34,186.50. Following the transaction, the chief financial officer now directly owns 15,504 shares in the company, valued at approximately $495,352.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,516 shares of company stock worth $208,100. Insiders own 0.91% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at about $203,000. Cubist Systematic Strategies LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at about $284,000. KCS Wealth Advisory acquired a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at about $298,000. First PREMIER Bank acquired a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at about $332,000. Finally, SG Americas Securities LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at about $422,000. 54.10% of the stock is currently owned by institutional investors and hedge funds.
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About Blackstone Mortgage 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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