Blackstone Mortgage Trust (NYSE:BXMT) Given New $20.00 Price Target at JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) had its target price boosted by JPMorgan Chase & Co. from $17.50 to $20.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts have also commented on BXMT. Keefe, Bruyette & Woods upped their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone Mortgage Trust has an average rating of “Hold” and an average price target of $20.64.

Blackstone Mortgage Trust Stock Up 0.9 %

NYSE BXMT opened at $20.51 on Tuesday. Blackstone Mortgage Trust has a 52 week low of $16.53 and a 52 week high of $20.73. The firm has a market capitalization of $3.52 billion, a P/E ratio of -14.75 and a beta of 1.50. The company has a 50-day moving average price of $18.30 and a 200-day moving average price of $18.41.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, beating the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 12.91% and a positive return on equity of 9.35%. As a group, equities research analysts anticipate that Blackstone Mortgage Trust will post 1.95 EPS for the current year.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.47 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 annualized dividend and a yield of 9.17%. Blackstone Mortgage Trust’s payout ratio is -160.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. Smartleaf Asset Management LLC boosted its stake in Blackstone Mortgage Trust by 125.7% in the 4th 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 period. Harbor Capital Advisors Inc. bought a new position in Blackstone Mortgage Trust in the 3rd quarter worth approximately $39,000. Huntington National Bank boosted its stake in Blackstone Mortgage Trust by 1,672.9% in the 4th quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 2,844 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $56,000. Finally, McIlrath & Eck LLC bought a new position in Blackstone Mortgage Trust in the 3rd quarter worth approximately $63,000. 64.15% of the stock is currently owned by institutional investors.

About Blackstone Mortgage Trust

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.