The stock of Blackstone Mortgage Trust Inc. (NYSE:BXMT) last traded at $22.42, down -0.80% from the previous session.
Data from the available sources indicates that Blackstone Mortgage Trust Inc. (NYSE:BXMT) is covered by 9 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $17.00, we find $21.00. Given the previous closing price of $22.60, this indicates a potential downside of -7.08 percent. BXMT stock price is now 12.69% away from the 50-day moving average and 5.88% away from the 200-day moving average. The market capitalization of the company currently stands at $3.92B.
In total, 6 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $20.79 as their price target over the next twelve months.
With the price target enhanced from $19 to $24, BTIG Research maintained Buy rating for Blackstone Mortgage Trust Inc. (NYSE: BXMT).
In other news, Keenan Katharine A, CEO & President sold 2,275 shares of the company’s stock on Jun 09. The stock was sold for $45,011 at an average price of $19.79. Upon completion of the transaction, the CEO & President now directly owns 155,993 shares in the company, valued at $3.5 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 09, Chief Financial Officer Marone Anthony F. JR sold 485 shares of the business’s stock. A total of $9,585 was realized by selling the stock at an average price of $19.76. This leaves the insider owning 51,887 shares of the company worth $1.16 million. Insiders disposed of 26,825 shares of company stock worth roughly $0.6 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BXMT stock. A new stake in Blackstone Mortgage Trust Inc. shares was purchased by THRIVENT FINANCIAL FOR LUTHERANS during the first quarter worth $10,286,000. EXODUSPOINT CAPITAL MANAGEMENT, LP invested $6,067,000 in shares of BXMT during the first quarter. In the first quarter, RESOLUTE WEALTH STRATEGIES, LLC acquired a new stake in Blackstone Mortgage Trust Inc. valued at approximately $3,495,000. CHILTON INVESTMENT CO INC. acquired a new stake in BXMT for approximately $2,935,000. ADAGE CAPITAL PARTNERS GP, L.L.C. purchased a new stake in BXMT valued at around $2,466,000 in the second quarter. In total, there are 445 active investors with 56.00% ownership of the company’s stock.
With an opening price of $22.60 on Tuesday morning, Blackstone Mortgage Trust Inc. (NYSE: BXMT) set off the trading day. During the past 12 months, Blackstone Mortgage Trust Inc. has had a low of $16.60 and a high of $31.46. The fifty day moving average price for BXMT is $20.00 and a two-hundred day moving average price translates $21.17 for the stock.
The latest earnings results from Blackstone Mortgage Trust Inc. (NYSE: BXMT) was released for Mar, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.79, beating analysts’ expectations of $0.73 by 0.06. This compares to $0.58 EPS in the same period last year. The net profit margin was 16.70% and return on equity was 5.80% for BXMT. The company reported revenue of $491.38 million for the quarter, compared to $234.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 109.61 percent. For the current quarter, analysts expect BXMT to generate $170.2M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/30/2023 were paid a $0.62 dividend. On an annualized basis, this represents a $2.48 dividend and a 11.06% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, BXMT is presently at 159.40%.
Blackstone Mortgage Trust Inc.(BXMT) 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, together with its subsidiaries, originates and acquires commercial mortgage loans and related investments. It operates as a real estate investment trust for federal income tax purposes. The company was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013. Blackstone Mortgage Trust, Inc. was incorporated in 1998 and is headquartered in New York, New York.
