Blackstone Mortgage Trust Inc (NYSE:BXMT) Treasurer Douglas N. Armer sold 909 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $34.84, for a total value of $31,669.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of BXMT stock traded up $0.20 during trading hours on Friday, reaching $35.12. 1,279,100 shares of the company’s stock were exchanged, compared to its average volume of 1,004,852. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 2.63 and a beta of 0.46. Blackstone Mortgage Trust Inc has a 1 year low of $29.51 and a 1 year high of $35.28.
Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $105.15 million during the quarter, compared to the consensus estimate of $97.06 million. Blackstone Mortgage Trust had a return on equity of 9.36% and a net margin of 50.60%. During the same period in the prior year, the business posted $0.69 EPS. Analysts expect that Blackstone Mortgage Trust Inc will post 2.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend was Thursday, September 27th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 107.36%.
A number of analysts have weighed in on BXMT shares. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, July 30th. Credit Suisse Group increased their price objective on Blackstone Mortgage Trust from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 21st. BTIG Research started coverage on Blackstone Mortgage Trust in a research report on Monday, October 8th. They set a “neutral” rating for the company. Citigroup started coverage on Blackstone Mortgage Trust in a research report on Friday, October 12th. They set a “neutral” rating and a $33.00 price objective for the company. Finally, ValuEngine raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.75.
Several hedge funds have recently modified their holdings of the company. Ahrens Investment Partners LLC purchased a new position in Blackstone Mortgage Trust in the 3rd quarter valued at approximately $211,000. American International Group Inc. increased its stake in Blackstone Mortgage Trust by 11.4% in the 3rd quarter. American International Group Inc. now owns 74,200 shares of the real estate investment trust’s stock valued at $2,486,000 after purchasing an additional 7,584 shares in the last quarter. Northeast Financial Consultants Inc purchased a new position in Blackstone Mortgage Trust in the 3rd quarter valued at approximately $659,000. Commonwealth Bank of Australia purchased a new position in Blackstone Mortgage Trust during the third quarter worth $264,000. Finally, MML Investors Services LLC increased its position in Blackstone Mortgage Trust by 22.5% during the third quarter. MML Investors Services LLC now owns 7,921 shares of the real estate investment trust’s stock worth $265,000 after buying an additional 1,456 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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