Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Blackstone Mortgage Trust (NYSE:BXMT)

Keefe, Bruyette & Woods restated their market perform rating on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research report released on Tuesday morning, Benzinga reports. They currently have a $18.00 target price on the real estate investment trust’s stock.

BXMT has been the topic of several other research reports. UBS Group dropped their target price on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an overweight rating for the company in a research note on Thursday, April 25th. Bank of America lowered shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and lowered their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $18.50 to $17.50 and set a neutral rating for the company in a report on Thursday, April 25th. Finally, BTIG Research reduced their target price 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $19.93.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock opened at $18.03 on Tuesday. The firm has a 50-day moving average of $17.82 and a 200-day moving average of $19.54. Blackstone Mortgage Trust has a one year low of $16.70 and a one year high of $23.82. The company has a market cap of $3.13 billion, a P/E ratio of 601.00 and a beta of 1.47.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 13.75%. The ex-dividend date of this dividend is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 8,266.67%.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 4,508 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the transaction, the chief executive officer now directly owns 182,960 shares in the company, valued at approximately $3,207,288.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Katharine A. Keenan sold 4,508 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the transaction, the chief executive officer now directly owns 182,960 shares in the company, valued at approximately $3,207,288.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 2,296 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the sale, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at approximately $3,194,454.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,057 shares of company stock valued at $191,141. Insiders own 0.93% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors have recently modified their holdings of BXMT. Central Bank & Trust Co. purchased a new stake in Blackstone Mortgage Trust in the fourth quarter worth about $25,000. Cape Investment Advisory Inc. bought a new stake in shares of Blackstone Mortgage Trust during the fourth quarter valued at approximately $42,000. GAMMA Investing LLC purchased a new stake in Blackstone Mortgage Trust in the fourth quarter worth $45,000. Creekmur Asset Management LLC bought a new position in Blackstone Mortgage Trust in the fourth quarter worth $51,000. Finally, Sandy Spring Bank lifted its position in Blackstone Mortgage Trust by 10,652.0% during the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 2,663 shares during the period. 64.15% of the stock is currently 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.