Blackstone Mortgage Trust (BXMT) Hits New 52-Week High at $36.07

Blackstone Mortgage Trust Inc (NYSE:BXMT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $36.07 and last traded at $35.96, with a volume of 57450 shares changing hands. The stock had previously closed at $35.71.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, April 26th. JMP Securities reiterated a “hold” rating on shares of Blackstone Mortgage Trust in a research note on Sunday, February 17th. Deutsche Bank cut shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $35.00 to $34.50 in a research note on Wednesday, February 13th. Finally, ValuEngine cut shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.63.

The firm has a market cap of $4.47 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.11. The firm had revenue of $106.07 million for the quarter, compared to analyst estimates of $98.89 million. Blackstone Mortgage Trust had a net margin of 48.22% and a return on equity of 9.73%. During the same quarter in the previous year, the firm posted $0.64 EPS. Equities research analysts forecast that Blackstone Mortgage Trust Inc will post 2.54 EPS for the current year.

In other Blackstone Mortgage Trust news, Treasurer Douglas N. Armer sold 1,913 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $35.46, for a total value of $67,834.98. Following the sale, the treasurer now owns 74,383 shares of the company’s stock, valued at approximately $2,637,621.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony F. Marone, Jr. sold 793 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $35.45, for a total transaction of $28,111.85. Following the completion of the sale, the chief financial officer now directly owns 29,824 shares in the company, valued at approximately $1,057,260.80. The disclosure for this sale can be found here. Insiders sold a total of 3,808 shares of company stock worth $134,065 in the last three months. Insiders own 0.96% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BXMT. Cetera Advisors LLC raised its position in shares of Blackstone Mortgage Trust by 68.7% in the 4th quarter. Cetera Advisors LLC now owns 10,314 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 4,200 shares during the period. Enlightenment Research LLC acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at approximately $96,000. Golub Group LLC increased its stake in Blackstone Mortgage Trust by 7.2% during the 4th quarter. Golub Group LLC now owns 70,230 shares of the real estate investment trust’s stock worth $2,238,000 after purchasing an additional 4,711 shares in the last quarter. Winslow Evans & Crocker Inc. increased its stake in Blackstone Mortgage Trust by 30.8% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 1,486 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 350 shares in the last quarter. Finally, HRT Financial LLC bought a new stake in Blackstone Mortgage Trust during the 4th quarter worth approximately $291,000. 60.75% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/05/16/blackstone-mortgage-trust-bxmt-hits-new-52-week-high-at-36-07.html.

Blackstone Mortgage Trust Company Profile (NYSE:BXMT)

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by 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.

Read More: The risks of owning bonds

Receive News & Ratings for Blackstone Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.