Blackstone Mortgage Trust (NYSE:BXMT) Issues Quarterly Earnings Results

Blackstone Mortgage Trust (NYSE:BXMT) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.87) by $1.26, Zacks reports. Blackstone Mortgage Trust had a positive return on equity of 9.35% and a negative net margin of 12.91%.

Blackstone Mortgage Trust Stock Up 1.5 %

Shares of Blackstone Mortgage Trust stock traded up $0.28 during mid-day trading on Wednesday, reaching $19.21. 472,615 shares of the stock traded hands, compared to its average volume of 1,549,121. The stock has a market capitalization of $3.32 billion, a PE ratio of -13.83 and a beta of 1.50. The business has a 50-day moving average of $18.20 and a 200 day moving average of $18.35. Blackstone Mortgage Trust has a fifty-two week low of $16.53 and a fifty-two week high of $20.73.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.79%. The ex-dividend date was Tuesday, December 31st. Blackstone Mortgage Trust’s payout ratio is -135.25%.

Analyst Upgrades and Downgrades

Several research firms have commented on BXMT. Wolfe Research upgraded 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 report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “market perform” rating on the stock in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.14.

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.