Blackstone Mortgage Trust (NYSE:BXMT) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.25 and traded as low as $17.88. Blackstone Mortgage Trust shares last traded at $17.9350, with a volume of 1,217,282 shares.

Wall Street Analyst Weigh In

BXMT has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. BTIG Research reissued a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Weiss Ratings downgraded shares of Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.13.

Blackstone Mortgage Trust Stock Down 1.9%

The business’s 50-day moving average price is $18.96 and its 200 day moving average price is $19.25. The company has a market capitalization of $3.03 billion, a P/E ratio of 29.40 and a beta of 0.89.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date was Tuesday, March 31st. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 308.20%.

Insider Activity at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 1,666 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total value of $31,454.08. Following the completion of the transaction, the president directly owned 76,967 shares in the company, valued at approximately $1,453,136.96. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of large investors have recently modified their holdings of the company. UBS Group AG boosted its position in shares of Blackstone Mortgage Trust by 24.4% in the third quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust’s stock valued at $56,740,000 after acquiring an additional 603,588 shares during the period. Bamco Inc. NY boosted its position in shares of Blackstone Mortgage Trust by 17.9% in the fourth quarter. Bamco Inc. NY now owns 2,000,621 shares of the real estate investment trust’s stock valued at $38,272,000 after acquiring an additional 304,307 shares during the period. Norges Bank bought a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $38,239,000. Goldman Sachs Group Inc. boosted its position in shares of Blackstone Mortgage Trust by 19.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,607,185 shares of the real estate investment trust’s stock valued at $30,745,000 after acquiring an additional 264,256 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Blackstone Mortgage Trust by 25.7% during the 4th quarter. Invesco Ltd. now owns 1,354,870 shares of the real estate investment trust’s stock valued at $25,919,000 after acquiring an additional 277,280 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.