Blackstone Mortgage Trust Inc (BXMT) Earns Buy Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their buy rating on shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) in a research report released on Thursday. Keefe, Bruyette & Woods currently has a $32.00 price target on the real estate investment trust’s stock.

Several other research firms also recently issued reports on BXMT. Wells Fargo & Co downgraded shares of Blackstone Mortgage Trust from an outperform rating to a market perform rating in a report on Monday, January 9th. JMP Securities downgraded shares of Blackstone Mortgage Trust from an outperform rating to a market perform rating in a report on Thursday, February 16th. They noted that the move was a valuation call. FBR & Co restated a buy rating on shares of Blackstone Mortgage Trust in a report on Wednesday, February 15th. TheStreet upgraded shares of Blackstone Mortgage Trust from a c rating to a b- rating in a report on Thursday, February 16th. Finally, Zacks Investment Research downgraded shares of Blackstone Mortgage Trust from a hold rating to a sell rating in a report on Friday, February 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Blackstone Mortgage Trust currently has an average rating of Hold and a consensus target price of $31.80.

Blackstone Mortgage Trust (NYSE:BXMT) opened at 30.69 on Thursday. The company has a 50 day moving average of $30.77 and a 200-day moving average of $30.13. The stock has a market cap of $2.91 billion, a P/E ratio of 12.13 and a beta of 0.84. Blackstone Mortgage Trust has a 12-month low of $25.98 and a 12-month high of $31.53.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings data on Tuesday, February 14th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Blackstone Mortgage Trust had a net margin of 59.83% and a return on equity of 9.35%. The company had revenue of $71.83 million for the quarter, compared to analyst estimates of $78.62 million. During the same quarter last year, the company earned $0.68 EPS. The business’s revenue was down 12.5% compared to the same quarter last year. Equities analysts forecast that Blackstone Mortgage Trust will post $2.59 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $2.48 annualized dividend and a yield of 8.08%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 92.88%.

A number of institutional investors have recently modified their holdings of BXMT. PNC Financial Services Group Inc. increased its position in shares of Blackstone Mortgage Trust by 27.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,276 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 1,126 shares during the period. IFP Advisors Inc increased its position in shares of Blackstone Mortgage Trust by 188.1% in the second quarter. IFP Advisors Inc now owns 6,532 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 4,265 shares during the period. First Manhattan Co. increased its position in shares of Blackstone Mortgage Trust by 40.2% in the third quarter. First Manhattan Co. now owns 6,450 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 1,850 shares during the period. 1st Global Advisors Inc. acquired a new position in shares of Blackstone Mortgage Trust during the third quarter valued at $203,000. Finally, Argentus Capital Management LLC acquired a new position in shares of Blackstone Mortgage Trust during the third quarter valued at $211,000. Institutional investors own 71.56% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.

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