Key Points
- Director Henry Nassau bought 10,000 BXMT shares at an average price of $14.34, investing $143,400 and increasing his ownership by 4.8% to 218,523 shares.
- Blackstone Mortgage Trust reported quarterly EPS of $0.31, missing the $0.41 analyst consensus, while revenue of $158.06 million slightly exceeded estimates.
- The stock opened at $13.88, near its 52-week low, as the company maintained a quarterly dividend of $0.47 per share, equivalent to a 13.5% annualized yield; analysts’ consensus rating remains “Hold” with a $19.20 price target.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) Director Henry Nassau purchased 10,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were acquired at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the completion of the acquisition, the director owned 218,523 shares of the company's stock, valued at approximately $3,133,619.82. This trade represents a 4.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Blackstone Mortgage Trust Stock Down 0.4%
Shares of Blackstone Mortgage Trust stock opened at $13.88 on Friday. The stock's 50-day simple moving average is $17.12 and its 200-day simple moving average is $18.45. Blackstone Mortgage Trust, Inc. has a 52 week low of $13.73 and a 52 week high of $20.67. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 154.21, a PEG ratio of 0.24 and a beta of 0.91.
Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10). Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%.The business had revenue of $158.06 million during the quarter, compared to the consensus estimate of $157.32 million. On average, equities analysts expect that Blackstone Mortgage Trust, Inc. will post 1.21 earnings per share for the current year.
Blackstone Mortgage Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 13.5%. The ex-dividend date was Tuesday, June 30th. Blackstone Mortgage Trust's dividend payout ratio is presently 2,088.89%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. 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 lifted its position in Blackstone Mortgage Trust by 1,498.1% in the second quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust's stock worth $30,696,000 after buying an additional 1,494,830 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Blackstone Mortgage Trust in the second quarter worth $18,109,000. UBS Group AG boosted its stake in Blackstone Mortgage Trust by 24.4% during the third quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust's stock worth $56,740,000 after buying an additional 603,588 shares during the period. Finally, Invesco Ltd. boosted its stake 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 worth $19,838,000 after buying an additional 446,838 shares during the period. 64.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of Blackstone Mortgage Trust from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of Blackstone Mortgage Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. UBS Group initiated coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 2nd. They set a "buy" rating and a $21.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $16.00 target price (down from $20.00) on shares of Blackstone Mortgage Trust in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Blackstone Mortgage Trust from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blackstone Mortgage Trust currently has a consensus rating of "Hold" and a consensus price target of $19.20.
Get Our Latest Research Report on BXMT
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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