Blackstone Mortgage Trust (NYSE:BXMT) PT Lowered to $20.50

Blackstone Mortgage Trust (NYSE:BXMT) had its target price decreased by Keefe, Bruyette & Woods from $21.00 to $20.50 in a research note published on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the real estate investment trust’s stock.

BXMT has been the subject of a number of other reports. Bank of America downgraded shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and reduced their price target for the company from $22.00 to $21.00 in a research report on Monday, March 4th. UBS Group reduced their price target on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating for the company in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research report on Wednesday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of Hold and an average price target of $21.17.

Blackstone Mortgage Trust Stock Down 1.5 %

Shares of NYSE:BXMT opened at $18.65 on Wednesday. The company has a market cap of $3.24 billion, a P/E ratio of 13.23 and a beta of 1.42. Blackstone Mortgage Trust has a 52 week low of $16.75 and a 52 week high of $23.82. The company has a 50-day moving average price of $19.61 and a 200 day moving average price of $20.77.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.30%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 175.89%.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,275 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction on Monday, March 11th. The shares were 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 of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock valued at $112,642 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

Several institutional investors have recently made changes to their positions in BXMT. Raymond James Financial Services Advisors Inc. grew its stake in shares of Blackstone Mortgage Trust by 14.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 60,571 shares of the real estate investment trust’s stock valued at $1,926,000 after buying an additional 7,506 shares during the period. US Bancorp DE lifted its holdings in shares of Blackstone Mortgage Trust by 11.8% during the 1st quarter. US Bancorp DE now owns 18,508 shares of the real estate investment trust’s stock valued at $588,000 after acquiring an additional 1,957 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Blackstone Mortgage Trust by 43.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 12,607 shares of the real estate investment trust’s stock valued at $401,000 after acquiring an additional 3,802 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Blackstone Mortgage Trust by 50.6% during the 1st quarter. MetLife Investment Management LLC now owns 82,945 shares of the real estate investment trust’s stock valued at $2,637,000 after acquiring an additional 27,873 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at $200,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

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.