Key Points
- CFO Marcin Urbaszek sold 864 BXMT shares for approximately $11,595 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards, reducing his holdings by 3.48% to 23,960 shares.
- Blackstone Mortgage Trust shares opened at $13.30, near their 52-week low, after the REIT reported quarterly EPS of $0.31, missing the $0.41 analyst consensus, while revenue slightly exceeded estimates.
- The company declared a quarterly dividend of $0.47 per share, representing a $1.88 annualized payout and a 14.1% yield; analysts’ consensus rating is Hold, with a target price of $19.20.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) CFO Marcin Urbaszek sold 864 shares of the company's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $13.42, for a total value of $11,594.88. Following the completion of the transaction, the chief financial officer owned 23,960 shares of the company's stock, valued at approximately $321,543.20. This represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Blackstone Mortgage Trust Stock Down 1.4%
Shares of NYSE:BXMT opened at $13.30 on Friday. Blackstone Mortgage Trust, Inc. has a 52-week low of $13.10 and a 52-week high of $20.67. The company has a 50 day moving average of $14.76 and a two-hundred day moving average of $17.26. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 147.83, a price-to-earnings-growth ratio of 0.32 and a beta of 0.90.
Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10). The firm had revenue of $158.06 million for the quarter, compared to analyst estimates of $157.32 million. Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%. On average, equities analysts anticipate that Blackstone Mortgage Trust, Inc. will post 0.9 earnings per share for the current year.
Blackstone Mortgage Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.88 annualized dividend and a yield of 14.1%. Blackstone Mortgage Trust's payout ratio is 2,088.89%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on BXMT shares. Weiss Ratings cut shares of Blackstone Mortgage Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, July 31st. Raymond James Financial lowered Blackstone Mortgage Trust from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 6th. Wells Fargo & Company cut their price target on Blackstone Mortgage Trust from $22.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Zacks Research downgraded Blackstone Mortgage Trust from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $16.00 price objective (down from $20.00) on shares of Blackstone Mortgage Trust in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.20.
Read Our Latest Research Report on BXMT
Institutional Trading of Blackstone Mortgage Trust
Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Blackstone Mortgage Trust during the 4th quarter valued at $38,239,000. Bank of America Corp DE increased its position in shares of Blackstone Mortgage Trust by 21.9% in the 1st quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust's stock worth $24,839,000 after purchasing an additional 233,357 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter worth about $18,109,000. Principal Financial Group Inc. raised its stake in shares of Blackstone Mortgage Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 770,901 shares of the real estate investment trust's stock valued at $14,763,000 after purchasing an additional 19,423 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of Blackstone Mortgage Trust by 0.6% during the first quarter. Punch & Associates Investment Management Inc. now owns 483,624 shares of the real estate investment trust's stock worth $9,261,000 after purchasing an additional 2,971 shares during the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.
About Blackstone Mortgage Trust
(
Get Free Report)
Blackstone Mortgage Trust, Inc is a real estate investment trust (REIT) that originates and holds senior mortgage loans secured by commercial real estate. Its lending activities primarily focus on transitional and institutional-quality properties, including office, multifamily, hotel, industrial, retail and other commercial assets.
The company's portfolio is concentrated in major real estate markets in the United States, Europe and Australia. Its loans are generally floating-rate and are designed to provide financing for acquisitions, refinancings, renovations, development and other commercial real estate activities.
Blackstone Mortgage Trust is externally managed by BXMT Advisors LLC, an affiliate of Blackstone.
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