Blackstone Mortgage Trust (NYSE:BXMT) Shares Gap Down to $19.13

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $19.13, but opened at $18.00. Blackstone Mortgage Trust shares last traded at $17.99, with a volume of 1,246,153 shares.

Analyst Ratings Changes

BXMT has been the subject of several research reports. Bank of America cut shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $21.00 in a research note on Monday, March 4th. BTIG Research decreased their price target on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. JPMorgan Chase & Co. decreased 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 note on Wednesday, April 10th. Finally, UBS Group decreased their target price on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.83.

Blackstone Mortgage Trust Stock Down 4.9 %

The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 12.80 and a beta of 1.42. The stock’s fifty day moving average is $19.58 and its two-hundred day moving average is $20.63.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a yield of 13.63%. Blackstone Mortgage Trust’s payout ratio is 175.89%.

Insider Buying and Selling at Blackstone Mortgage Trust

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Advisors LLC raised its stake in Blackstone Mortgage Trust by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock valued at $1,772,000 after purchasing an additional 500 shares in the last quarter. MBM Wealth Consultants LLC lifted its holdings in shares of Blackstone Mortgage Trust by 5.2% during the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 615 shares during the period. Arizona State Retirement System boosted its position in shares of Blackstone Mortgage Trust by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock worth $1,014,000 after acquiring an additional 630 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Blackstone Mortgage Trust by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 13,000 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 700 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Blackstone Mortgage Trust by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 11,136 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 727 shares during the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

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.