Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CEO Purchases $274,560.00 in Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CEO Katharine A. Keenan bought 16,000 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased 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 owns 198,960 shares of the company’s stock, valued at $3,414,153.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock remained flat at $17.19 during trading on Tuesday. 2,113,168 shares of the company were exchanged, compared to its average volume of 2,155,074. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.53 and a 52-week high of $23.67. The business’s 50-day moving average price is $17.88 and its 200 day moving average price is $18.73. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 581.33 and a beta of 1.49.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $466.15 million during the quarter, compared to analysts’ expectations of $131.87 million. Blackstone Mortgage Trust had a negative net margin of 7.98% and a positive return on equity of 10.16%. During the same period in the previous year, the company earned $0.75 EPS. Equities analysts expect that Blackstone Mortgage Trust, Inc. will post 1.94 earnings per share for the current year.

Blackstone Mortgage Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.94%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 6,266.67%.

Institutional Trading of Blackstone Mortgage Trust

Institutional investors have recently modified their holdings of the company. Brown Advisory Inc. raised its holdings in Blackstone Mortgage Trust by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 11,136 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 727 shares during the period. Versant Capital Management Inc increased its position in shares of Blackstone Mortgage Trust by 66.4% in the second quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 871 shares in the last quarter. CWM LLC raised its stake in shares of Blackstone Mortgage Trust by 7.5% in the 4th quarter. CWM LLC now owns 12,856 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 897 shares during the period. Essex Financial Services Inc. lifted its holdings in shares of Blackstone Mortgage Trust by 8.9% during the 4th quarter. Essex Financial Services Inc. now owns 12,228 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in Blackstone Mortgage Trust by 14.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,465 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 1,039 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BXMT shares. JPMorgan Chase & Co. dropped their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Wells Fargo & Company cut their price target on Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Wolfe Research initiated coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Finally, BTIG Research reissued a “buy” rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of “Hold” and an average price target of $19.58.

About Blackstone Mortgage Trust

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.