Blackstone Mortgage Trust (BXMT) Set to Announce Earnings on Wednesday

Blackstone Mortgage Trust (NYSE:BXMT) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.36 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $466.15 million during the quarter, compared to the consensus estimate of $131.87 million. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. During the same period in the prior year, the firm posted $0.75 earnings per share. On average, analysts expect Blackstone Mortgage Trust to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Blackstone Mortgage Trust Price Performance

BXMT opened at $18.35 on Wednesday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -20.38 and a beta of 1.50. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $23.29. The business has a 50 day moving average price of $18.38 and a two-hundred day moving average price of $18.18.

Blackstone Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 10.25%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is -208.89%.

Blackstone Mortgage Trust announced that its board has authorized a share repurchase program on Wednesday, July 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, Director Timothy Steven Johnson bought 57,050 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $17.50 per share, with a total value of $998,375.00. Following the purchase, the director now directly owns 423,251 shares in the company, valued at $7,406,892.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Katharine A. Keenan purchased 16,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $17.16 per share, for a total transaction of $274,560.00. Following the acquisition, the chief executive officer now directly owns 198,960 shares in the company, valued at approximately $3,414,153.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy Steven Johnson purchased 57,050 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $17.50 per share, for a total transaction of $998,375.00. Following the completion of the acquisition, the director now owns 423,251 shares in the company, valued at $7,406,892.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 83,050 shares of company stock valued at $1,448,135 and have sold 1,495 shares valued at $27,899. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

BXMT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 target price on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 18th. Wells Fargo & Company upped their price target on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. BTIG Research reaffirmed a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Finally, Wolfe Research started coverage on Blackstone Mortgage Trust in a report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.08.

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.