Key Points
- President Fernando Austin Pena sold 3,131 shares on Dec. 31 at an average price of $19.24 for $60,240, reducing his stake by 3.83% to 78,633 shares (≈$1.51M).
- The company declared a quarterly dividend of $0.47 per share (annualized $1.88), a 9.7% yield
- Blackstone Mortgage Trust beat quarterly estimates (EPS $0.24 vs. $0.19 est.; revenue $132.7M vs. $103.6M), but analysts retain a consensus "Hold" rating with a $20.33 target and the stock trading near $19.46.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) President Fernando Austin Pena sold 3,131 shares of the firm's stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $19.24, for a total transaction of $60,240.44. Following the sale, the president owned 78,633 shares in the company, valued at approximately $1,512,898.92. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Blackstone Mortgage Trust Price Performance
Blackstone Mortgage Trust stock opened at $19.46 on Friday. The firm has a 50-day moving average of $19.24 and a 200-day moving average of $19.17. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 31.39 and a beta of 1.07. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24.
Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last announced its quarterly 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 business had revenue of $132.71 million for the quarter, compared to analyst estimates of $103.56 million. Blackstone Mortgage Trust had a net margin of 7.53% and a return on equity of 4.06%. As a group, sell-side analysts expect that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current year.
Blackstone Mortgage Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Blackstone Mortgage Trust's payout ratio is presently 303.23%.
Analysts Set New Price Targets
BXMT has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Blackstone Mortgage Trust in a research note on Monday. Keefe, Bruyette & Woods upgraded shares of Blackstone Mortgage Trust from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $20.00 to $21.00 in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Blackstone Mortgage Trust from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.33.
Check Out Our Latest Stock Report on BXMT
Institutional Trading of Blackstone Mortgage Trust
Institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new position in Blackstone Mortgage Trust in the third quarter worth $25,000. Jones Financial Companies Lllp raised its position in Blackstone Mortgage Trust by 45.5% during the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 536 shares in the last quarter. North Capital Inc. bought a new stake in Blackstone Mortgage Trust during the third quarter worth about $37,000. Advisory Services Network LLC purchased a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $46,000. Finally, FNY Investment Advisers LLC increased its position in shares of Blackstone Mortgage Trust by 420.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,600 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.
About Blackstone Mortgage Trust
(
Get Free Report)
Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.
The firm's core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.
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