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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s share price 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 traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BXMT shares. JPMorgan Chase & Co. lowered their price objective on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research report on Thursday, April 25th. UBS Group lowered their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Wolfe Research assumed coverage on Blackstone Mortgage Trust in a research report on Tuesday. They set a “peer perform” rating for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price target on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. Finally, Wells Fargo & Company reduced their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.93.

Blackstone Mortgage Trust Price Performance

The company has a 50 day moving average price of $17.80 and a 200 day moving average price of $19.45. The firm has a market cap of $3.02 billion, a PE ratio of 596.67 and a beta of 1.47.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 14.25%. The ex-dividend date is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.04, for a total value of $39,123.84. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,508 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the sale, the chief executive officer now owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 2,296 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the sale, the chief executive officer now directly owns 187,468 shares in the company, valued at approximately $3,194,454.72. The disclosure for this sale can be found here. Insiders have sold 11,057 shares of company stock valued at $191,141 over the last quarter. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several large investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC raised its holdings in shares of Blackstone Mortgage Trust by 29.5% in the 1st quarter. Cetera Advisors LLC now owns 12,381 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 2,824 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Blackstone Mortgage Trust by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,044 shares of the real estate investment trust’s stock worth $1,753,000 after purchasing an additional 6,276 shares during the period. Truvestments Capital LLC raised its holdings in shares of Blackstone Mortgage Trust by 20.1% in the 1st quarter. Truvestments Capital LLC now owns 133,059 shares of the real estate investment trust’s stock worth $2,649,000 after purchasing an additional 22,299 shares during the period. Quadrature Capital Ltd raised its holdings in shares of Blackstone Mortgage Trust by 229.8% in the 1st quarter. Quadrature Capital Ltd now owns 49,743 shares of the real estate investment trust’s stock worth $990,000 after purchasing an additional 34,659 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Blackstone Mortgage Trust by 10.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 20,880 shares of the real estate investment trust’s stock worth $416,000 after purchasing an additional 2,000 shares during the period. 64.15% of the stock is currently owned by hedge funds and other 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.