JPMorgan Chase & Co. Reaffirms Neutral Rating for Blackstone Mortgage Trust (NYSE:BXMT)


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JPMorgan Chase & Co. restated their neutral rating on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research note published on Monday, Benzinga reports. They currently have a $31.00 price target on the real estate investment trust’s stock.

Several other brokerages have also issued reports on BXMT. Zacks Investment Research raised Blackstone Mortgage Trust from a sell rating to a hold rating in a research note on Tuesday, April 13th. Wells Fargo & Company boosted their price objective on Blackstone Mortgage Trust from $30.00 to $36.00 and gave the company an overweight rating in a report on Thursday, April 29th. BTIG Research initiated coverage on Blackstone Mortgage Trust in a report on Monday, April 19th. They set a buy rating and a $35.00 price objective for the company. Credit Suisse Group boosted their price objective on Blackstone Mortgage Trust from $28.00 to $33.00 and gave the company a neutral rating in a report on Tuesday, March 23rd. Finally, TheStreet downgraded Blackstone Mortgage Trust from a b rating to a c+ rating in a report on Tuesday, February 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $30.57.

Blackstone Mortgage Trust stock opened at $32.15 on Monday. The stock’s 50 day moving average is $32.05 and its 200 day moving average is $28.18. The firm has a market cap of $4.73 billion, a P/E ratio of 34.20 and a beta of 1.32. Blackstone Mortgage Trust has a one year low of $19.57 and a one year high of $33.01.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Blackstone Mortgage Trust had a return on equity of 8.44% and a net margin of 18.98%. During the same period last year, the business earned $0.64 earnings per share. As a group, analysts predict that Blackstone Mortgage Trust will post 2.28 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $2.48 annualized dividend and a yield of 7.71%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 100.81%.

In other Blackstone Mortgage Trust news, President Katharine A. Keenan sold 1,912 shares of the company’s stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $31.14, for a total value of $59,539.68. Following the completion of the transaction, the president now owns 91,541 shares in the company, valued at approximately $2,850,586.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,077 shares of company stock valued at $92,945 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

A number of large investors have recently made changes to their positions in BXMT. Norges Bank bought a new position in Blackstone Mortgage Trust in the 4th quarter valued at $45,176,000. Artemis Investment Management LLP purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $7,508,000. Stansberry Asset Management LLC purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $5,172,000. Nan Shan Life Insurance Co. Ltd. lifted its position in shares of Blackstone Mortgage Trust by 12.3% during the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 1,571,450 shares of the real estate investment trust’s stock valued at $43,262,000 after buying an additional 171,600 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $2,539,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

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 operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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