Blackstone Mortgage Trust (NYSE:BXMT) Sets New 52-Week Low on Disappointing Earnings

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) shares hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $18.37 and last traded at $19.04, with a volume of 1489415 shares trading hands. The stock had previously closed at $18.96.

The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a positive return on equity of 8.62% and a negative net margin of 11.54%.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.87%. The ex-dividend date was Monday, March 31st. Blackstone Mortgage Trust’s payout ratio is currently -160.68%.

Analysts Set New Price Targets

Several research firms recently weighed in on BXMT. JPMorgan Chase & Co. cut their price objective on shares of Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating on the stock in a research report on Monday, April 7th. Finally, UBS Group decreased their price objective on shares of Blackstone Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.25.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,323 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.70, for a total transaction of $48,086.10. Following the sale, the chief executive officer now directly owns 248,487 shares of the company’s stock, valued at approximately $5,143,680.90. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 5,652 shares of company stock worth $116,971 over the last quarter. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC bought a new position in shares of Blackstone Mortgage Trust during the third quarter valued at $63,000. Virtu Financial LLC acquired a new stake in Blackstone Mortgage Trust in the third quarter valued at $350,000. Tidal Investments LLC bought a new position in Blackstone Mortgage Trust during the 3rd quarter worth $883,000. Diversify Advisory Services LLC acquired a new position in Blackstone Mortgage Trust during the 4th quarter worth about $172,000. Finally, MBM Wealth Consultants LLC grew its position in shares of Blackstone Mortgage Trust by 9.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 13,737 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 1,208 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Up 0.4 %

The company has a market cap of $3.27 billion, a price-to-earnings ratio of -16.27 and a beta of 1.22. The firm has a 50 day moving average price of $19.47 and a two-hundred day moving average price of $18.87.

Blackstone Mortgage Trust Company Profile

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.