Key Points
- CEO Timothy Johnson bought 90,000 BXMT shares at an average price of $11.50, investing about $1.035 million. The purchase increased his direct ownership by 17.05% to 617,900 shares.
- Blackstone Mortgage Trust reported quarterly EPS of $0.38, beating the $0.24 consensus, but revenue of $141.9 million came in below estimates of $148.6 million.
- The company cut its quarterly dividend from $0.47 to $0.30 per share, equivalent to $1.20 annually and a stated 10.5% yield. Analysts’ consensus rating was “Hold,” with an average price target of $17.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) Director Henry Nassau purchased 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average price of $11.43 per share, for a total transaction of $114,300.00. Following the transaction, the director owned 233,490 shares of the company's stock, valued at $2,668,790.70. This trade represents a 4.47% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Blackstone Mortgage Trust Stock Performance
BXMT opened at $11.44 on Friday. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $10.11 and a fifty-two week high of $20.67. The company has a fifty day moving average of $12.03 and a two-hundred day moving average of $16.55. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -5.13, a PEG ratio of 0.49 and a beta of 0.90.
Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.14. The business had revenue of $141.90 million during the quarter, compared to the consensus estimate of $148.60 million. Blackstone Mortgage Trust had a negative net margin of 48.18% and a positive return on equity of 9.17%. On average, equities research analysts forecast that Blackstone Mortgage Trust, Inc. will post 0.50 earnings per share for the current year.
Blackstone Mortgage Trust Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 10.5%. This is a drop from Blackstone Mortgage Trust's previous quarterly dividend of $0.47. Blackstone Mortgage Trust's dividend payout ratio is -84.30%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. UBS Group lowered their price objective on Blackstone Mortgage Trust from $21.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on Blackstone Mortgage Trust from $13.00 to $12.00 and set a "market perform" rating for the company in a report on Friday, October 30th. Wells Fargo & Company reduced their target price on Blackstone Mortgage Trust from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Weiss Ratings restated a "sell (d)" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, October 29th. Finally, Citigroup reaffirmed a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.00.
View Our Latest Analysis on BXMT
Institutional Investors Weigh In On Blackstone Mortgage Trust
A number of large investors have recently modified their holdings of the business. Northside Capital Management LLC purchased a new position in shares of Blackstone Mortgage Trust in the second quarter worth about $28,000. Central Pacific Bank Trust Division boosted its position in Blackstone Mortgage Trust by 50.0% during the third quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Blackstone Mortgage Trust during the second quarter worth about $39,000. Ascentis Independent Advisors purchased a new stake in Blackstone Mortgage Trust during the 1st quarter valued at about $41,000. Finally, Covestor Ltd grew its stake in Blackstone Mortgage Trust by 2,167.3% during the 3rd quarter. Covestor Ltd now owns 5,056 shares of the real estate investment trust's stock valued at $58,000 after acquiring an additional 4,833 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.
Blackstone Mortgage Trust Company Profile
(
Get Free Report)
Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.
Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.
Further Reading
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