Blackstone Mortgage Trust (NYSE:BXMT) Given New $18.50 Price Target at JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) had its price target reduced by JPMorgan Chase & Co. from $19.00 to $18.50 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone Mortgage Trust from $22.00 to $21.00 and set a market perform rating on the stock in a research report on Friday, February 16th. Bank of America cut shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and decreased their price objective for the company from $22.00 to $21.00 in a research report on Monday, March 4th. Finally, UBS Group decreased their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating on the stock in a research report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $21.17.

Blackstone Mortgage Trust Stock Down 4.6 %

Shares of NYSE:BXMT opened at $18.63 on Wednesday. The stock has a market cap of $3.24 billion, a PE ratio of 13.21 and a beta of 1.42. The company’s fifty day moving average is $19.63 and its 200 day moving average is $20.82. Blackstone Mortgage Trust has a 52 week low of $16.75 and a 52 week high of $23.82.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 13.31%. The ex-dividend date of this dividend is Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio is currently 175.89%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at $3,967,565.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 5,540 shares of company stock worth $112,642 over the last 90 days. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Hedge funds have recently bought and sold shares of the business. Central Bank & Trust Co. bought a new stake in Blackstone Mortgage Trust during the fourth quarter worth about $25,000. Versant Capital Management Inc lifted its stake in shares of Blackstone Mortgage Trust by 447.5% in the third quarter. Versant Capital Management Inc now owns 1,336 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,092 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Blackstone Mortgage Trust in the second quarter worth approximately $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Blackstone Mortgage Trust in the third quarter worth approximately $37,000. Finally, DT Investment Partners LLC bought a new position in shares of Blackstone Mortgage Trust in the second quarter worth approximately $41,000. Institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

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.