Published On: Sun, Sep 18th, 2016

Blackstone Mortgage Trust Inc. (BXMT) PT Raised to $31.00

Blackstone Mortgage Trust Inc. (NYSE:BXMT) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $29.00 to $31.00 in a research note issued to investors on Thursday. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 6.79% from the company’s previous close.
BXMT has been the subject of a number of other research reports. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, May 2nd. FBR & Co reissued a “buy” rating on shares of Blackstone Mortgage Trust in a research note on Thursday, April 28th. Deutsche Bank AG reissued a “buy” rating on shares of Blackstone Mortgage Trust in a research note on Sunday, April 10th. Finally, Credit Suisse Group AG assumed coverage on Blackstone Mortgage Trust in a research note on Monday, April 18th. They set an “outperform” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $30.50.
Blackstone Mortgage Trust (NYSE:BXMT) traded down 0.34% during mid-day trading on Thursday, reaching $29.03. 656,619 shares of the company traded hands. The company’s 50-day moving average is $29.18 and its 200-day moving average is $27.83. Blackstone Mortgage Trust has a 12-month low of $22.13 and a 12-month high of $30.23. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 10.80 and a beta of 1.23.

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Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The business earned $81.40 million during the quarter, compared to analyst estimates of $78.34 million. Blackstone Mortgage Trust had a return on equity of 9.44% and a net margin of 59.73%. Blackstone Mortgage Trust’s revenue for the quarter was up 63.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities analysts predict that Blackstone Mortgage Trust will post $2.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 8.54%. Blackstone Mortgage Trust’s dividend payout ratio is presently 91.85%.
Several institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new position in shares of Blackstone Mortgage Trust during the second quarter worth approximately $144,000. IFP Advisors Inc increased its position in shares of Blackstone Mortgage Trust by 188.1% in the second quarter. IFP Advisors Inc now owns 6,532 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 4,265 shares in the last quarter. Legal & General Group Plc increased its position in shares of Blackstone Mortgage Trust by 25.3% in the first quarter. Legal & General Group Plc now owns 6,736 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 1,359 shares in the last quarter. MAI Capital Management purchased a new position in Blackstone Mortgage Trust during the second quarter worth about $208,000. Finally, Ausdal Financial Partners Inc. purchased a new position in Blackstone Mortgage Trust during the second quarter worth about $209,000. Institutional investors own 74.64% of the company’s stock.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc is a holding company, which conducts its operations as a real estate investment trust. The Company is a real estate finance company that originates and purchases senior loans collateralized by properties in North America and Europe. Its 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, residential, retail, industrial and healthcare sectors in North America and Europe.

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