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

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective trimmed by JPMorgan Chase & Co. from $18.50 to $17.50 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the stock. UBS Group dropped their price objective on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a neutral rating for the company in a report on Thursday. BTIG Research decreased their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a buy rating for the company in a report on Wednesday, April 17th. Bank of America cut Blackstone Mortgage Trust from a buy rating to a neutral rating and decreased their target price for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Keefe, Bruyette & Woods reduced their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating for the company in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company decreased their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an overweight rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $20.29.

Blackstone Mortgage Trust Stock Performance

NYSE:BXMT traded up $0.32 during trading hours on Thursday, reaching $17.97. The company’s stock had a trading volume of 138,574 shares, compared to its average volume of 2,149,047. The firm has a 50-day simple moving average of $19.51 and a 200-day simple moving average of $20.60. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 588.33 and a beta of 1.42. Blackstone Mortgage Trust has a 1 year low of $16.83 and a 1 year high of $23.82.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.80%. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.

Insider Transactions at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Katharine A. Keenan sold 2,274 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at $3,967,565.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,540 shares of company stock worth $112,642. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC bought a new position in shares of Blackstone Mortgage Trust in the third quarter worth $207,000. SG Americas Securities LLC purchased a new stake in Blackstone Mortgage Trust during the third quarter worth $1,255,000. State of Alaska Department of Revenue purchased a new position in Blackstone Mortgage Trust in the 3rd quarter valued at about $2,333,000. Handelsbanken Fonder AB increased its position in shares of Blackstone Mortgage Trust by 14.7% during the third quarter. Handelsbanken Fonder AB now owns 26,451 shares of the real estate investment trust’s stock worth $575,000 after acquiring an additional 3,400 shares during the period. Finally, MBM Wealth Consultants LLC raised its holdings in Blackstone Mortgage Trust by 5.2% during the third quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 615 shares in the last quarter. Institutional investors and hedge funds 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.