Blackstone Mortgage Trust Inc (BXMT) Receives Consensus Recommendation of “Hold” from Analysts

Blackstone Mortgage Trust Inc (NYSE:BXMT) has earned an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $33.67.

Several research firms recently commented on BXMT. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, October 26th. BTIG Research started coverage on Blackstone Mortgage Trust in a research report on Monday, October 8th. They issued a “neutral” rating for the company. Citigroup started coverage on Blackstone Mortgage Trust in a research report on Friday, October 12th. They issued a “neutral” rating and a $33.00 price objective for the company. ValuEngine upgraded Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, TheStreet upgraded Blackstone Mortgage Trust from a “c+” rating to a “b+” rating in a research report on Wednesday, October 31st.

Shares of NYSE:BXMT traded up $0.20 during midday trading on Friday, hitting $32.98. The company had a trading volume of 744,900 shares, compared to its average volume of 970,988. Blackstone Mortgage Trust has a twelve month low of $29.51 and a twelve month high of $35.70. The stock has a market cap of $3.95 billion, a PE ratio of 14.28, a P/E/G ratio of 2.59 and a beta of 0.51.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Blackstone Mortgage Trust had a return on equity of 9.36% and a net margin of 50.60%. The firm had revenue of $105.15 million during the quarter, compared to analysts’ expectations of $97.06 million. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, sell-side analysts forecast that Blackstone Mortgage Trust will post 2.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a $0.62 dividend. The ex-dividend date is Friday, December 28th. This represents a $2.48 annualized dividend and a yield of 7.52%. Blackstone Mortgage Trust’s payout ratio is 107.36%.

In other news, Director Leonard W. Cotton purchased 3,000 shares of the stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average cost of $33.87 per share, for a total transaction of $101,610.00. Following the completion of the transaction, the director now directly owns 19,074 shares in the company, valued at approximately $646,036.38. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Anthony F. Marone, Jr. sold 1,055 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was sold at an average price of $34.83, for a total value of $36,745.65. Following the transaction, the chief financial officer now owns 30,623 shares of the company’s stock, valued at $1,066,599.09. The disclosure for this sale can be found here. Insiders sold 7,211 shares of company stock valued at $251,423 over the last quarter. 0.96% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new position in shares of Blackstone Mortgage Trust during the second quarter worth $143,000. Stratos Wealth Partners LTD. purchased a new position in Blackstone Mortgage Trust in the third quarter valued at $190,000. Comerica Bank purchased a new position in Blackstone Mortgage Trust in the third quarter valued at $205,000. Ahrens Investment Partners LLC purchased a new position in Blackstone Mortgage Trust in the third quarter valued at $211,000. Finally, Lido Advisors LLC purchased a new position in Blackstone Mortgage Trust in the second quarter valued at $224,000. Institutional investors and hedge funds own 64.12% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

Read More: What strategies should day traders use to execute a trade?

Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

Receive News & Ratings for Blackstone Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply