Key Points
- CFO Anthony Marone, Jr. sold 1,012 shares on Dec. 17 at an average price of $20.31 for $20,553.72, leaving him with 75,500 shares — a 1.32% reduction in his stake.
- Blackstone Mortgage Trust pays a hefty dividend of $0.47 quarterly (annualized $1.88) for a 9.3% yield, but the dividend payout ratio is very high at 303.23%, indicating potential sustainability risk.
- The stock is trading at $20.31 with a market cap of $3.41B; analysts have an average rating of Hold and a consensus price target of $20.33, while the company recently beat quarterly EPS and revenue estimates.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) CFO Anthony Marone, Jr. sold 1,012 shares of the business's stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $20.31, for a total transaction of $20,553.72. Following the completion of the transaction, the chief financial officer owned 75,500 shares of the company's stock, valued at $1,533,405. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Blackstone Mortgage Trust Trading Down 0.0%
Shares of NYSE:BXMT traded down $0.00 during trading on Thursday, reaching $20.31. The stock had a trading volume of 229,442 shares, compared to its average volume of 1,421,066. The firm's 50-day simple moving average is $18.87 and its 200 day simple moving average is $19.12. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24. The company has a market capitalization of $3.41 billion, a P/E ratio of 32.73 and a beta of 1.08.
Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. The company had revenue of $132.71 million during the quarter, compared to analysts' expectations of $103.56 million. Blackstone Mortgage Trust had a net margin of 7.53% and a return on equity of 4.06%. Equities research analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current fiscal year.
Blackstone Mortgage Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Wednesday, December 31st. Blackstone Mortgage Trust's dividend payout ratio is currently 303.23%.
Institutional Trading of Blackstone Mortgage Trust
Several large investors have recently made changes to their positions in BXMT. Crewe Advisors LLC acquired a new position in shares of Blackstone Mortgage Trust in the 2nd quarter valued at about $1,080,000. Baker Avenue Asset Management LP purchased a new position in Blackstone Mortgage Trust during the second quarter valued at approximately $1,588,000. Strs Ohio purchased a new position in Blackstone Mortgage Trust during the first quarter valued at approximately $650,000. Partners Capital Investment Group LLP lifted its holdings in Blackstone Mortgage Trust by 105.1% in the first quarter. Partners Capital Investment Group LLP now owns 82,637 shares of the real estate investment trust's stock valued at $1,653,000 after acquiring an additional 42,355 shares during the period. Finally, Advisors Capital Management LLC boosted its position in Blackstone Mortgage Trust by 4.4% in the 2nd quarter. Advisors Capital Management LLC now owns 1,078,886 shares of the real estate investment trust's stock worth $20,769,000 after purchasing an additional 45,871 shares in the last quarter. 64.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
BXMT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised Blackstone Mortgage Trust from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $20.00 to $21.00 in a report on Monday, November 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Blackstone Mortgage Trust in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Blackstone Mortgage Trust from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.33.
Check Out Our Latest Research Report on Blackstone Mortgage Trust
Blackstone Mortgage Trust Company Profile
(
Get Free Report)
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.
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