Capital Trust, Inc. (BXMT) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Capital Trust, Inc. (NYSE:BXMT) from a hold rating to a buy rating in a research report released on Monday. They currently have $36.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “
A number of other equities analysts have also commented on the company. FBR & Co lifted their price objective on Capital Trust from $32.00 to $33.00 and gave the stock a buy rating in a research note on Thursday, October 26th. BidaskClub upgraded Capital Trust from a sell rating to a hold rating in a research note on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $33.00 price objective on shares of Capital Trust in a research note on Friday, September 15th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $34.00.
Capital Trust (NYSE BXMT) traded up $0.14 during trading on Monday, hitting $32.08. The stock had a trading volume of 211,967 shares, compared to its average volume of 589,958. The firm has a market cap of $3.03 billion, a P/E ratio of 13.94 and a beta of 0.69.
Capital Trust (NYSE:BXMT) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $78.60 million for the quarter, compared to analyst estimates of $74.35 million. Capital Trust had a return on equity of 8.63% and a net margin of 53.85%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. research analysts predict that Capital Trust will post 2.28 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.48 annualized dividend and a yield of 7.73%. Capital Trust’s dividend payout ratio is 110.22%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in Capital Trust by 91.4% during the first quarter. Legal & General Group Plc now owns 16,665 shares of the real estate investment trust’s stock valued at $516,000 after acquiring an additional 7,957 shares during the period. BlackRock Inc. increased its stake in Capital Trust by 1,288,745.4% during the first quarter. BlackRock Inc. now owns 4,175,859 shares of the real estate investment trust’s stock valued at $129,284,000 after acquiring an additional 4,175,535 shares during the period. Russell Investments Group Ltd. bought a new position in Capital Trust during the second quarter valued at about $3,700,000. Advisors Capital Management LLC increased its stake in Capital Trust by 4.6% during the second quarter. Advisors Capital Management LLC now owns 883,247 shares of the real estate investment trust’s stock valued at $27,911,000 after acquiring an additional 38,500 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its stake in Capital Trust by 2.2% during the second quarter. Moody Lynn & Lieberson LLC now owns 104,697 shares of the real estate investment trust’s stock valued at $3,308,000 after acquiring an additional 2,220 shares during the period. Hedge funds and other institutional investors own 61.38% of the company’s stock.
Capital 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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