Blackstone Mortgage Trust (NYSE:BXMT) Reaches New 1-Year Low – Here’s Why

Blackstone Mortgage Trust, Inc. (NYSE:BXMT)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $17.67 and last traded at $17.8280, with a volume of 143286 shares traded. The stock had previously closed at $17.96.

Wall Street Analyst Weigh In

Several analysts have issued reports on BXMT shares. BTIG Research restated a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, May 11th. Keefe, Bruyette & Woods boosted their target price on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. lowered their target price on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone Mortgage Trust has an average rating of “Moderate Buy” and an average target price of $21.13.

Blackstone Mortgage Trust Stock Performance

The company has a market capitalization of $3.04 billion, a P/E ratio of 29.63 and a beta of 0.92. The business has a 50 day moving average of $19.08 and a 200-day moving average of $19.27.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date was Tuesday, March 31st. Blackstone Mortgage Trust’s payout ratio is presently 308.20%.

Insider Activity

In related news, President Fernando Austin Pena sold 1,666 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total transaction of $31,454.08. Following the sale, the president directly owned 76,967 shares in the company, valued at approximately $1,453,136.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth about $38,239,000. Bamco Inc. NY boosted its holdings in shares of Blackstone Mortgage Trust by 1,498.1% in the 2nd quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust’s stock worth $30,696,000 after purchasing an additional 1,494,830 shares in the last quarter. UBS Group AG boosted its holdings in shares of Blackstone Mortgage Trust by 24.4% in the 3rd quarter. UBS Group AG now owns 3,082,005 shares of the real estate investment trust’s stock worth $56,740,000 after purchasing an additional 603,588 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Blackstone Mortgage Trust by 70.8% in the 3rd quarter. Invesco Ltd. now owns 1,077,590 shares of the real estate investment trust’s stock worth $19,838,000 after purchasing an additional 446,838 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth about $7,733,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.