Blackstone Mortgage Trust (NYSE:BXMT) Shares Gap Down to $17.89

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) shares gapped down before the market opened on Friday . The stock had previously closed at $17.89, but opened at $17.30. Blackstone Mortgage Trust shares last traded at $17.49, with a volume of 155,642 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America cut Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 18th. Wolfe Research began coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company cut their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.93.

Blackstone Mortgage Trust Trading Up 0.8 %

The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 580.67 and a beta of 1.47. The stock has a fifty day simple moving average of $17.78 and a 200-day simple moving average of $19.41.

Blackstone Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 14.24%. The ex-dividend date of this dividend is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 8,266.67%.

Insider Activity

In related news, CEO Katharine A. Keenan sold 2,296 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the transaction, the chief executive officer now owns 187,468 shares of the company’s stock, valued at $3,194,454.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Katharine A. Keenan sold 2,296 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.04, for a total transaction of $39,123.84. Following the sale, the chief executive officer now owns 187,468 shares in the company, valued at $3,194,454.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 4,508 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the transaction, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,057 shares of company stock worth $191,141. 0.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of BXMT. Central Bank & Trust Co. bought a new position in Blackstone Mortgage Trust during the fourth quarter worth about $25,000. Cape Investment Advisory Inc. acquired a new stake in Blackstone Mortgage Trust during the 4th quarter worth approximately $42,000. GAMMA Investing LLC bought a new position in Blackstone Mortgage Trust in the fourth quarter valued at approximately $45,000. Creekmur Asset Management LLC acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $51,000. Finally, Sandy Spring Bank increased its position in shares of Blackstone Mortgage Trust by 10,652.0% during the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 2,663 shares in the last quarter. 64.15% of the stock is owned by 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.