Zacks Investment Research Upgrades Blackstone Mortgage Trust Inc (BXMT) to Hold

Blackstone Mortgage Trust Inc (NYSE:BXMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

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. “

Several other brokerages also recently issued reports on BXMT. Wells Fargo & Co downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. JMP Securities downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Thursday, February 16th. They noted that the move was a valuation call. FBR & Co reiterated a “buy” rating on shares of Blackstone Mortgage Trust in a report on Wednesday, February 15th. TheStreet upgraded Blackstone Mortgage Trust from a “c” rating to a “b-” rating in a report on Thursday, February 16th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $32.00 price target on shares of Blackstone Mortgage Trust in a report on Thursday, March 16th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Blackstone Mortgage Trust currently has a consensus rating of “Buy” and an average price target of $31.80.

Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

Blackstone Mortgage Trust (NYSE:BXMT) traded up 0.52% during midday trading on Monday, hitting $30.98. The stock had a trading volume of 654,125 shares. The company has a 50-day moving average price of $30.79 and a 200-day moving average price of $30.16. The stock has a market cap of $2.94 billion, a P/E ratio of 12.25 and a beta of 0.84. Blackstone Mortgage Trust has a 52 week low of $25.98 and a 52 week high of $31.53.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Tuesday, February 14th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Blackstone Mortgage Trust had a return on equity of 9.35% and a net margin of 59.83%. The company had revenue of $71.83 million for the quarter, compared to the consensus estimate of $78.62 million. During the same quarter last year, the company posted $0.68 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. Equities analysts expect that Blackstone Mortgage Trust will post $2.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be paid a $0.62 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $2.48 dividend on an annualized basis and a yield of 8.01%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 92.88%.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners increased its position in shares of Blackstone Mortgage Trust by 268.6% in the third quarter. Boston Partners now owns 339,008 shares of the real estate investment trust’s stock worth $9,984,000 after buying an additional 247,037 shares during the period. Toronto Dominion Bank increased its position in shares of Blackstone Mortgage Trust by 12.6% in the third quarter. Toronto Dominion Bank now owns 1,324,000 shares of the real estate investment trust’s stock worth $38,992,000 after buying an additional 148,551 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of Blackstone Mortgage Trust by 0.6% in the third quarter. Punch & Associates Investment Management Inc. now owns 212,966 shares of the real estate investment trust’s stock worth $6,272,000 after buying an additional 1,172 shares during the period. Pekin Singer Strauss Asset Management IL increased its position in shares of Blackstone Mortgage Trust by 12.8% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 57,052 shares of the real estate investment trust’s stock worth $1,680,000 after buying an additional 6,476 shares during the period. Finally, Private Capital Advisors Inc. acquired a new position in shares of Blackstone Mortgage Trust during the third quarter worth about $3,919,000. Hedge funds and other institutional investors own 71.56% of the company’s stock.

About Blackstone Mortgage Trust

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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