Blackstone Mortgage Trust (NYSE:BXMT) PT Lowered to $20.50

14 Apr 2024, 09:16 by Sarita Garza · The Markets Daily

Blackstone Mortgage Trust (NYSE:BXMT – Free Report) had its price objective cut by Keefe, Bruyette & Woods from $21.00 to $20.50 in a report released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on BXMT. Bank of America cut Blackstone Mortgage Trust from a buy rating to a neutral rating and decreased their price objective for the company from $22.00 to $21.00 in a report on Monday, March 4th. JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research note on Wednesday. Finally, UBS Group cut their price target on Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating for the company in a research note on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $21.17.

Check Out Our Latest Report on BXMT

Blackstone Mortgage Trust Stock Down 1.5 %

Shares of BXMT stock opened at $18.65 on Wednesday. The stock has a market cap of $3.24 billion, a PE ratio of 13.23 and a beta of 1.42. The business has a 50-day simple moving average of $19.61 and a 200-day simple moving average of $20.77. Blackstone Mortgage Trust has a 52-week low of $16.75 and a 52-week high of $23.82.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.48 annualized dividend and a yield of 13.30%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 175.89%.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the sale, the chief executive officer now directly owns 192,023 shares in the company, valued at approximately $3,888,465.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. In the last three months, insiders sold 5,540 shares of company stock worth $112,642. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of large investors have recently made changes to their positions in BXMT. Raymond James Financial Services Advisors Inc. grew its position in shares of Blackstone Mortgage Trust by 14.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 60,571 shares of the real estate investment trust’s stock valued at $1,926,000 after purchasing an additional 7,506 shares in the last quarter. US Bancorp DE grew its position in shares of Blackstone Mortgage Trust by 11.8% in the first quarter. US Bancorp DE now owns 18,508 shares of the real estate investment trust’s stock valued at $588,000 after purchasing an additional 1,957 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Blackstone Mortgage Trust by 43.2% in the first quarter. Cetera Advisor Networks LLC now owns 12,607 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 3,802 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Blackstone Mortgage Trust by 50.6% in the first quarter. MetLife Investment Management LLC now owns 82,945 shares of the real estate investment trust’s stock valued at $2,637,000 after purchasing an additional 27,873 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Blackstone Mortgage Trust in the first quarter valued at approximately $200,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Company Profile

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