Blackstone Mortgage Trust (NYSE:BXMT) Stock: Insider Henry Nassau Acquires 10,000 Shares

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Director Henry Nassau acquired 10,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was bought at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the transaction, the director owned 233,490 shares of the company’s stock, valued at approximately $2,668,790.70. This trade represents a 4.47% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Blackstone Mortgage Trust Trading Down 1.6%

Shares of BXMT stock traded down $0.19 on Thursday, hitting $11.44. 3,348,394 shares of the stock were exchanged, compared to its average volume of 2,012,371. The firm has a market capitalization of $1.90 billion, a PE ratio of -5.13, a P/E/G ratio of 0.26 and a beta of 0.90. Blackstone Mortgage Trust, Inc. has a one year low of $10.11 and a one year high of $20.67. The firm’s 50 day moving average is $12.08 and its two-hundred day moving average is $16.59.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. The firm had revenue of $141.90 million during the quarter, compared to analyst estimates of $148.60 million. Blackstone Mortgage Trust had a positive return on equity of 9.17% and a negative net margin of 48.18%. On average, sell-side analysts expect that Blackstone Mortgage Trust, Inc. will post 0.91 earnings per share for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date of this dividend is Thursday, December 31st. This is a negative change from Blackstone Mortgage Trust’s previous quarterly dividend of $0.47. Blackstone Mortgage Trust’s payout ratio is currently -84.30%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Raymond James Financial cut shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone Mortgage Trust from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Friday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackstone Mortgage Trust in a research note on Thursday, October 29th. Finally, Zacks Research upgraded Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Blackstone Mortgage Trust has an average rating of “Hold” and an average price target of $17.00.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of large investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division raised its position in shares of Blackstone Mortgage Trust by 50.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Blackstone Mortgage Trust by 6.0% in the 1st quarter. Whipplewood Advisors LLC now owns 20,551 shares of the real estate investment trust’s stock valued at $394,000 after purchasing an additional 1,158 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Blackstone Mortgage Trust by 3.5% during the second quarter. Sequoia Financial Advisors LLC now owns 46,722 shares of the real estate investment trust’s stock valued at $792,000 after purchasing an additional 1,579 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Blackstone Mortgage Trust by 5.6% during the second quarter. Tidal Investments LLC now owns 29,607 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its position in shares of Blackstone Mortgage Trust by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 14,874 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 1,833 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.