Brokerages Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Price Target at $20.07

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.07.

BXMT has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, December 11th.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $17.77 on Friday. Blackstone Mortgage Trust has a one year low of $16.53 and a one year high of $22.04. The firm has a market capitalization of $3.07 billion, a P/E ratio of -12.78 and a beta of 1.50. The company’s fifty day moving average is $18.52 and its two-hundred day moving average is $18.38.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.88 annualized dividend and a yield of 10.58%. Blackstone Mortgage Trust’s dividend payout ratio is presently -135.25%.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several institutional investors have recently bought and sold shares of BXMT. Artemis Investment Management LLP acquired a new position in Blackstone Mortgage Trust during the 3rd quarter worth approximately $24,103,000. Van ECK Associates Corp raised its position in shares of Blackstone Mortgage Trust by 4.9% in the 3rd quarter. Van ECK Associates Corp now owns 823,935 shares of the real estate investment trust’s stock valued at $15,737,000 after purchasing an additional 38,436 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Blackstone Mortgage Trust during the 2nd quarter valued at approximately $10,656,000. Rockefeller Capital Management L.P. boosted its stake in shares of Blackstone Mortgage Trust by 1.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 595,425 shares of the real estate investment trust’s stock valued at $11,319,000 after buying an additional 8,444 shares during the last quarter. Finally, GFS Advisors LLC grew its position in shares of Blackstone Mortgage Trust by 9,068.6% during the third quarter. GFS Advisors LLC now owns 458,430 shares of the real estate investment trust’s stock worth $8,715,000 after buying an additional 453,430 shares in the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

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.