Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $18.00 by Analysts at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its target price cut by Keefe, Bruyette & Woods from $20.50 to $18.00 in a report issued on Friday morning, Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

BXMT has been the topic of several other reports. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a neutral rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday. UBS Group lowered their price objective on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a neutral rating on the stock in a research note on Thursday. BTIG Research lowered their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. Finally, Bank of America lowered shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and lowered their price objective for the stock from $22.00 to $21.00 in a research note on Monday, March 4th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Blackstone Mortgage Trust currently has an average rating of Hold and an average price target of $19.93.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT opened at $17.92 on Friday. The company’s 50-day moving average price is $19.47 and its two-hundred day moving average price is $20.57. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82. The stock has a market capitalization of $3.11 billion, a PE ratio of 597.17 and a beta of 1.42.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a yield of 13.84%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 8,266.67%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a document filed with the SEC, which can be accessed 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 dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the sale, the chief executive officer now owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were 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 of the company’s stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,540 shares of company stock worth $112,642. Insiders own 1.02% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Blackstone Mortgage Trust by 15.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after purchasing an additional 2,470,412 shares during the period. Blackstone Inc. lifted its holdings in shares of Blackstone Mortgage Trust by 9.5% during the 4th quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust’s stock worth $169,074,000 after acquiring an additional 686,881 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Blackstone Mortgage Trust by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,531,729 shares of the real estate investment trust’s stock worth $53,850,000 after acquiring an additional 106,670 shares during the period. Northern Trust Corp lifted its holdings in shares of Blackstone Mortgage Trust by 22.7% during the 3rd quarter. Northern Trust Corp now owns 2,218,838 shares of the real estate investment trust’s stock worth $48,260,000 after acquiring an additional 410,722 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Blackstone Mortgage Trust by 45.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,141,173 shares of the real estate investment trust’s stock worth $46,578,000 after acquiring an additional 669,172 shares during the period. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.