Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $20.00 at Wells Fargo & Company

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective reduced by Wells Fargo & Company from $22.00 to $20.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. UBS Group lowered their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating for the company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reduced their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research note on Wednesday, April 10th. Bank of America cut shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and cut their price objective for the company from $22.00 to $21.00 in a report on Monday, March 4th. Finally, BTIG Research lowered their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating on the stock in a report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $20.29.

Blackstone Mortgage Trust Stock Up 1.8 %

NYSE BXMT traded up $0.32 on Thursday, reaching $17.97. The company had a trading volume of 138,574 shares, compared to its average volume of 2,149,047. The stock has a market capitalization of $3.12 billion, a PE ratio of 588.33 and a beta of 1.42. The firm’s 50 day moving average price is $19.51 and its 200 day moving average price is $20.60. Blackstone Mortgage Trust has a 12 month low of $16.83 and a 12 month high of $23.82.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.62 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.80%. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the sale, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders sold 5,540 shares of company stock worth $112,642 over the last 90 days. 1.02% of the stock is owned by insiders.

Institutional Trading of Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of BXMT. Glassy Mountain Advisors Inc. lifted its position in shares of Blackstone Mortgage Trust by 8.0% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 61,186 shares of the real estate investment trust’s stock worth $1,218,000 after purchasing an additional 4,546 shares during the period. Verity & Verity LLC acquired a new stake in Blackstone Mortgage Trust during the 1st quarter worth $1,705,000. Childress Capital Advisors LLC increased its holdings in Blackstone Mortgage Trust by 16.4% during the 1st quarter. Childress Capital Advisors LLC now owns 14,197 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 2,000 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Blackstone Mortgage Trust during the first quarter worth about $110,000. Finally, Westend Capital Management LLC acquired a new position in Blackstone Mortgage Trust during the first quarter valued at approximately $83,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Company Profile

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.