Blackstone Mortgage Trust Inc (NYSE:BXMT)‘s stock had its “buy” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a report issued on Thursday. They presently have a $32.00 price objective on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 3.90% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. TheStreet raised Blackstone Mortgage Trust from a “c” rating to a “b-” rating in a research report on Thursday, February 16th. Bank of America Corp lowered Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, December 15th. Wells Fargo & Co lowered Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Zacks Investment Research lowered Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Friday, February 17th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Blackstone Mortgage Trust in a research report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.80.
Shares of Blackstone Mortgage Trust (NYSE:BXMT) opened at 30.80 on Thursday. Blackstone Mortgage Trust has a 12-month low of $25.98 and a 12-month high of $31.53. The stock has a market capitalization of $2.92 billion, a P/E ratio of 12.17 and a beta of 0.84. The firm’s 50-day moving average is $30.77 and its 200 day moving average is $30.13.
Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, February 14th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by $0.01. The company earned $71.83 million during the quarter, compared to analysts’ expectations of $78.62 million. Blackstone Mortgage Trust had a return on equity of 9.35% and a net margin of 59.83%. Blackstone Mortgage Trust’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts forecast that Blackstone Mortgage Trust will post $2.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $2.48 annualized dividend and a yield of 8.05%. Blackstone Mortgage Trust’s payout ratio is 92.88%.
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A number of large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Blackstone Mortgage Trust during the fourth quarter valued at approximately $28,886,000. Essex Financial Services Inc. increased its stake in Blackstone Mortgage Trust by 45.4% in the fourth quarter. Essex Financial Services Inc. now owns 14,175 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 4,425 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in Blackstone Mortgage Trust during the fourth quarter valued at approximately $2,972,000. Blackstone Group L.P. increased its stake in Blackstone Mortgage Trust by 4.2% in the third quarter. Blackstone Group L.P. now owns 4,431,560 shares of the real estate investment trust’s stock valued at $130,509,000 after buying an additional 177,181 shares during the last quarter. Finally, Nuveen Fund Advisors LLC increased its stake in Blackstone Mortgage Trust by 4.7% in the third quarter. Nuveen Fund Advisors LLC now owns 32,470 shares of the real estate investment trust’s stock valued at $956,000 after buying an additional 1,470 shares during the last quarter. Institutional investors own 71.56% of the company’s stock.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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