Analysts Set Blackstone Mortgage Trust (BXMT) Price Target at $33.33

Blackstone Mortgage Trust (NYSE:BXMT) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.33.

Several brokerages have recently weighed in on BXMT. Raymond James Financial began coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, March 27th. They issued a “market perform” rating for the company. B. Riley set a $33.00 target price on shares of Blackstone Mortgage Trust and gave the company a “buy” rating in a research note on Thursday, February 15th. JPMorgan Chase downgraded shares of Blackstone Mortgage Trust from an “overweight” rating to a “neutral” rating in a research note on Tuesday, February 6th. Finally, Zacks Investment Research downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Monday, January 29th.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in Blackstone Mortgage Trust by 61.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,423 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 1,677 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in Blackstone Mortgage Trust during the 4th quarter valued at $467,000. Dean Capital Management boosted its stake in Blackstone Mortgage Trust by 22.4% during the 4th quarter. Dean Capital Management now owns 137,230 shares of the real estate investment trust’s stock valued at $4,416,000 after acquiring an additional 25,135 shares during the last quarter. Millennium Management LLC bought a new position in Blackstone Mortgage Trust during the 4th quarter valued at $12,328,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Blackstone Mortgage Trust by 29.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 75,869 shares of the real estate investment trust’s stock valued at $2,441,000 after acquiring an additional 17,407 shares during the last quarter. Hedge funds and other institutional investors own 61.16% of the company’s stock.

Shares of BXMT stock traded down $0.07 on Wednesday, hitting $31.46. The stock had a trading volume of 676,485 shares, compared to its average volume of 856,160. The company has a market capitalization of $3,411.36, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.62 and a beta of 0.44. Blackstone Mortgage Trust has a 52-week low of $29.51 and a 52-week high of $33.08.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $80.17 million during the quarter, compared to the consensus estimate of $77.97 million. Blackstone Mortgage Trust had a net margin of 53.86% and a return on equity of 8.47%. research analysts forecast that Blackstone Mortgage Trust will post 2.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.48 dividend on an annualized basis and a yield of 7.88%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 107.36%.

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About Blackstone Mortgage Trust

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.

Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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