Blackstone Mortgage Trust (NYSE:BXMT) Hits New 12-Month High After Analyst Upgrade

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report)'s share price reached a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $17.50 to $20.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Blackstone Mortgage Trust traded as high as $20.73 and last traded at $20.67, with a volume of 1394347 shares trading hands. The stock had previously closed at $20.53.

Several other equities analysts have also issued reports on the stock. Wolfe Research raised shares of Blackstone Mortgage Trust from a "peer perform" rating to an "outperform" rating and set a $20.00 price objective on the stock in a report on Wednesday, December 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a "market perform" rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.64.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of BXMT. Smartleaf Asset Management LLC grew its holdings in Blackstone Mortgage Trust by 125.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 1,204 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Blackstone Mortgage Trust during the third quarter valued at $39,000. Huntington National Bank grew its holdings in shares of Blackstone Mortgage Trust by 1,672.9% during the fourth quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 2,844 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Blackstone Mortgage Trust during the fourth quarter valued at $56,000. Finally, McIlrath & Eck LLC purchased a new stake in shares of Blackstone Mortgage Trust during the third quarter valued at $63,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Price Performance

The stock has a market capitalization of $3.48 billion, a PE ratio of -17.31 and a beta of 1.50. The business's fifty day moving average price is $18.38 and its two-hundred day moving average price is $18.46.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. As a group, equities research analysts anticipate that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.28%. The ex-dividend date of this dividend was Tuesday, December 31st. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently -160.68%.

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 originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.