Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Given Average Rating of “Hold” by Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.14.

BXMT has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “market perform” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a report on Tuesday, January 21st.

Blackstone Mortgage Trust Stock Performance

NYSE BXMT opened at $17.74 on Thursday. The firm has a 50-day simple moving average of $18.32 and a 200 day simple moving average of $18.39. Blackstone Mortgage Trust has a twelve month low of $16.53 and a twelve month high of $21.42. The stock has a market cap of $3.07 billion, a PE ratio of -12.76 and a beta of 1.50.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 10.60%. Blackstone Mortgage Trust’s payout ratio is presently -135.25%.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True North Advisors LLC boosted its stake in Blackstone Mortgage Trust by 2.4% in the fourth quarter. True North Advisors LLC now owns 23,993 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 558 shares during the last quarter. AQR Capital Management LLC boosted its stake in Blackstone Mortgage Trust by 2.5% in the second quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock valued at $783,000 after acquiring an additional 1,111 shares during the last quarter. MBM Wealth Consultants LLC boosted its stake in Blackstone Mortgage Trust by 9.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 13,737 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 1,208 shares during the last quarter. Glassy Mountain Advisors Inc. boosted its stake in Blackstone Mortgage Trust by 2.6% in the third quarter. Glassy Mountain Advisors Inc. now owns 61,445 shares of the real estate investment trust’s stock valued at $1,168,000 after acquiring an additional 1,534 shares during the last quarter. Finally, FMR LLC boosted its stake in Blackstone Mortgage Trust by 11.4% in the third quarter. FMR LLC now owns 17,812 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 1,827 shares during the last quarter. 64.15% of the stock is owned by 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.