Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives Average Rating of “Hold” from Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.07.

BXMT has been the topic of several recent research reports. Wolfe Research upgraded Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th.

Blackstone Mortgage Trust Price Performance

Shares of NYSE BXMT opened at $17.91 on Friday. The stock has a market capitalization of $3.10 billion, a P/E ratio of -12.88 and a beta of 1.50. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $22.16. The business’s 50 day moving average is $18.62 and its two-hundred day moving average is $18.38.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.50%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Mortgage Trust’s payout ratio is presently -135.25%.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXMT. Harbor Capital Advisors Inc. purchased a new position in shares of Blackstone Mortgage Trust during the third quarter worth approximately $39,000. McIlrath & Eck LLC bought a new stake in Blackstone Mortgage Trust during the 3rd quarter valued at $63,000. Wellington Shields & Co. LLC lifted its holdings in shares of Blackstone Mortgage Trust by 98.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 4,555 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 2,255 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Blackstone Mortgage Trust during the 2nd quarter worth $87,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Blackstone Mortgage Trust during the third quarter valued at $95,000. Institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.