Blackstone Mortgage Trust (NYSE:BXMT) Sees Strong Trading Volume – Still a Buy?

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) saw strong trading volume on Friday . Approximately 918,712 shares changed hands during trading, a decline of 39% from the previous session’s volume of 1,511,793 shares.The stock last traded at $14.1840 and had previously closed at $14.97.

Blackstone Mortgage Trust News Summary

Here are the key news stories impacting Blackstone Mortgage Trust this week:

• Positive Sentiment: BXMT reported second-quarter revenue of $158.1 million, slightly above the $157.3 million consensus estimate. Adjusted earnings of $0.48 per share also exceeded the $0.38 consensus, while management highlighted loan growth and solid portfolio performance. Zacks Q2 earnings report
• Positive Sentiment: The company plans to reduce office and pre-2023 loan exposure by more than 40% by year-end while expanding into homebuilder finance, a move that could improve portfolio diversification and reduce exposure to challenged commercial real estate segments. BXMT portfolio strategy report
• Neutral Sentiment: Keefe, Bruyette & Woods reaffirmed its “market perform” rating, indicating neither a bullish nor bearish stance. Its price target was reduced from $20 to $16, which still implies potential upside from recent levels but reflects more cautious expectations. Keefe, Bruyette & Woods rating update
• Negative Sentiment: Reported EPS was $0.31, missing the $0.38 analyst consensus by $0.07. Realized gains and losses affected quarterly earnings, increasing concern about the quality and durability of profits despite the adjusted-EPS beat. BXMT Q2 earnings impact report
• Negative Sentiment: A Seeking Alpha analysis downgraded BXMT following the quarterly miss, suggesting that credit, office-market exposure and earnings volatility remain important risks for investors. Seeking Alpha BXMT downgrade analysis

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BXMT shares. Weiss Ratings lowered shares of Blackstone Mortgage Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $16.00 target price (down from $20.00) on shares of Blackstone Mortgage Trust in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. UBS Group started coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Zacks Research cut shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.75.

Blackstone Mortgage Trust Price Performance

The firm has a 50-day moving average of $17.51 and a 200 day moving average of $18.62. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 23.75 and a beta of 0.90.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.07). The company had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. Blackstone Mortgage Trust had a return on equity of 6.11% and a net margin of 8.75%. On average, equities analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.21 earnings per share for the current year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 13.0%. The ex-dividend date was Tuesday, June 30th. Blackstone Mortgage Trust’s payout ratio is presently 308.20%.

Insider Transactions at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 1,670 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $17.07, for a total transaction of $28,506.90. Following the sale, the president directly owned 72,899 shares of the company’s stock, valued at approximately $1,244,385.93. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,420 shares of company stock worth $95,233 over the last 90 days. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of BXMT. Jones Financial Companies Lllp lifted its stake in Blackstone Mortgage Trust by 45.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 536 shares during the last quarter. ORG Partners LLC acquired a new position in Blackstone Mortgage Trust during the fourth quarter worth approximately $41,000. Ascentis Independent Advisors acquired a new position in Blackstone Mortgage Trust during the first quarter worth approximately $41,000. UMB Bank n.a. raised its stake in Blackstone Mortgage Trust by 151.1% in the fourth quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 1,307 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Blackstone Mortgage Trust in the third quarter valued at approximately $46,000. 64.15% of the stock is owned by institutional investors.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.