Blackstone Mortgage Trust (NYSE:BXMT) Given New $18.50 Price Target at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its price target decreased by Keefe, Bruyette & Woods from $19.00 to $18.50 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on the company. Wolfe Research upgraded Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Wednesday, December 11th. Wells Fargo & Company upped 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.14.

Blackstone Mortgage Trust Price Performance

BXMT stock opened at $17.96 on Tuesday. The company’s 50 day simple moving average is $18.40 and its 200-day simple moving average is $18.37. Blackstone Mortgage Trust has a 52-week low of $16.53 and a 52-week high of $21.50. The firm has a market capitalization of $3.11 billion, a P/E ratio of -12.92 and a beta of 1.50.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a yield of 10.47%. Blackstone Mortgage Trust’s payout ratio is -135.25%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter valued at approximately $883,000. Virtu Financial LLC acquired a new stake in Blackstone Mortgage Trust in the third quarter valued at approximately $350,000. McIlrath & Eck LLC bought a new stake in Blackstone Mortgage Trust in the third quarter worth approximately $63,000. Weiss Asset Management LP acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth $1,937,000. Finally, Stifel Financial Corp increased its stake in shares of Blackstone Mortgage Trust by 15.4% during the 3rd quarter. Stifel Financial Corp now owns 70,381 shares of the real estate investment trust’s stock worth $1,338,000 after purchasing an additional 9,405 shares during the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.

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.