Key Points
- President Fernando Austin Pena sold 1,666 BXMT shares on March 31 at an average price of $18.88 for $31,454.08, leaving him with 76,967 shares (a 2.12% reduction in his holdings).
- Blackstone Mortgage Trust declared a quarterly dividend of $0.47 (annualized $1.88), a 10.1% yield with an ex-dividend date of March 31 and a dividend payout ratio of 289.23%.
- Analysts have a consensus rating of "Moderate Buy" with a $21.13 target, and institutional investors own 64.15% of the stock with recent large purchases by firms including Norges Bank, Bamco and UBS.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) President Fernando Austin Pena sold 1,666 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total value of $31,454.08. Following the sale, the president directly owned 76,967 shares of the company's stock, valued at approximately $1,453,136.96. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Blackstone Mortgage Trust Trading Down 0.5%
Shares of BXMT opened at $18.67 on Friday. The business's 50-day moving average price is $19.25 and its 200 day moving average price is $19.12. The stock has a market capitalization of $3.15 billion, a P/E ratio of 28.73 and a beta of 1.00. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $20.67.
Blackstone Mortgage Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Blackstone Mortgage Trust's dividend payout ratio (DPR) is 289.23%.
Wall Street Analyst Weigh In
BXMT has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Zacks Research raised shares of Blackstone Mortgage Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 24th. BTIG Research restated a "buy" rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. JPMorgan Chase & Co. raised their target price on Blackstone Mortgage Trust from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 4th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Blackstone Mortgage Trust in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.13.
Get Our Latest Stock Report on BXMT
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at approximately $38,239,000. Bamco Inc. NY raised its stake in Blackstone Mortgage Trust by 1,498.1% during the 2nd quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust's stock worth $30,696,000 after acquiring an additional 1,494,830 shares during the period. UBS Group AG raised its stake in Blackstone Mortgage Trust by 24.4% during the 3rd quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust's stock worth $56,740,000 after acquiring an additional 603,588 shares during the period. Invesco Ltd. lifted its holdings in Blackstone Mortgage Trust by 70.8% during the third quarter. Invesco Ltd. now owns 1,077,590 shares of the real estate investment trust's stock valued at $19,838,000 after purchasing an additional 446,838 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Blackstone Mortgage Trust during the fourth quarter valued at approximately $7,733,000. 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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