JPMorgan Chase & Co. Cuts Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $17.50

Blackstone Mortgage Trust (NYSE:BXMT) had its target price lowered by JPMorgan Chase & Co. from $18.50 to $17.50 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Wednesday, December 11th. Keefe, Bruyette & Woods reduced their price target on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “market perform” rating for the company in a report on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.14.

Blackstone Mortgage Trust Price Performance

Shares of BXMT opened at $17.59 on Tuesday. Blackstone Mortgage Trust has a 12 month low of $16.53 and a 12 month high of $21.50. The stock has a market cap of $3.04 billion, a PE ratio of -12.66 and a beta of 1.50. The stock’s 50-day moving average is $18.34 and its two-hundred day moving average is $18.40.

Blackstone Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date was Tuesday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is -135.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. True North Advisors LLC increased its stake in Blackstone Mortgage Trust by 2.4% during the 4th quarter. True North Advisors LLC now owns 23,993 shares of the real estate investment trust’s stock valued at $418,000 after buying an additional 558 shares during the period. AQR Capital Management LLC boosted its stake in Blackstone Mortgage Trust by 2.5% during the 2nd quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock valued at $783,000 after purchasing an additional 1,111 shares in the last quarter. MBM Wealth Consultants LLC increased its position in shares of Blackstone Mortgage Trust by 9.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 13,737 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 1,208 shares during the period. Glassy Mountain Advisors Inc. raised its stake in shares of Blackstone Mortgage Trust by 2.6% in the 3rd quarter. Glassy Mountain Advisors Inc. now owns 61,445 shares of the real estate investment trust’s stock worth $1,168,000 after buying an additional 1,534 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Blackstone Mortgage Trust by 11.4% in the third quarter. FMR LLC now owns 17,812 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 1,827 shares during the period. Institutional investors own 64.15% of the company’s stock.

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.