The price of Blackstone Mortgage Trust Inc. (NYSE:BXMT) shares last traded on Wall Street fell -3.68% to $22.25.
Based on available information, 8 analysts follow Blackstone Mortgage Trust Inc. (NYSE:BXMT). 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 $22.00, we find $23.50. Given the previous closing price of $23.10, this indicates a potential upside of 1.73 percent. BXMT stock price is now -0.30% away from the 50-day moving average and 6.91% away from the 200-day moving average. The market capitalization of the company currently stands at $3.76B.
Among analysts, 5 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $23.25 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 Sep 11. The stock was sold for $52,791 at an average price of $23.20. Upon completion of the transaction, the CEO & President now directly owns 150,284 shares in the company, valued at $3.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 11, Chief Financial Officer Marone Anthony F. JR sold 485 shares of the business’s stock. A total of $11,274 was realized by selling the stock at an average price of $23.25. This leaves the insider owning 50,495 shares of the company worth $1.12 million. Insiders disposed of 22,114 shares of company stock worth roughly $0.49 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 CAPITAL RESEARCH GLOBAL INVESTORS during the first quarter worth $19,246,000. RELATIVE VALUE PARTNERS GROUP, LLC invested $4,313,000 in shares of BXMT during the first quarter. In the first quarter, MERCER GLOBAL ADVISORS INC /ADV acquired a new stake in Blackstone Mortgage Trust Inc. valued at approximately $2,762,000. GLASSY MOUNTAIN ADVISORS, INC. acquired a new stake in BXMT for approximately $1,564,000. ML & R WEALTH MANAGEMENT LLC purchased a new stake in BXMT valued at around $1,407,000 in the second quarter. In total, there are 413 active investors with 56.00% ownership of the company’s stock.
A candlestick chart of Blackstone Mortgage Trust Inc. (NYSE: BXMT) showed a price of $22.88 on Thursday morning. During the past 12 months, Blackstone Mortgage Trust Inc. has had a low of $16.60 and a high of $29.09. The fifty day moving average price for BXMT is $22.32 and a two-hundred day moving average price translates $20.80 for the stock.
The latest earnings results from Blackstone Mortgage Trust Inc. (NYSE: BXMT) was released for Jun, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.79, beating analysts’ expectations of $0.66 by 0.13. This compares to $0.54 EPS in the same period last year. The net profit margin was 15.00% and return on equity was 6.00% for BXMT. The company reported revenue of $521.89 million for the quarter, compared to $283.69 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 83.97 percent. For the current quarter, analysts expect BXMT to generate $161.05M 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 11.15% 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 155.20%.
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.
