Blackstone Mortgage Trust (BXMT) Set to Announce Earnings on Wednesday

Blackstone Mortgage Trust (NYSE:BXMT) will be announcing its earnings results before the market opens on Wednesday, October 23rd. Analysts expect Blackstone Mortgage Trust to post earnings of $0.36 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. The business had revenue of $466.15 million for the quarter, compared to the consensus estimate of $131.87 million. During the same period in the previous year, the company posted $0.75 earnings per share. On average, analysts expect Blackstone Mortgage Trust to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Blackstone Mortgage Trust Stock Down 1.8 %

NYSE:BXMT opened at $18.68 on Tuesday. Blackstone Mortgage Trust has a 52 week low of $16.53 and a 52 week high of $23.29. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -20.76 and a beta of 1.50. The company’s 50 day moving average price is $18.49 and its 200-day moving average price is $18.17.

Blackstone Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 10.06%. The ex-dividend date of this dividend was Monday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently -208.89%.

Blackstone Mortgage Trust announced that its board has initiated a stock buyback plan on Wednesday, July 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Blackstone Mortgage Trust

In related news, Director Henry N. Nassau bought 10,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $17.52 per share, for a total transaction of $175,200.00. Following the completion of the purchase, the director now directly owns 165,557 shares of the company’s stock, valued at $2,900,558.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone Mortgage Trust news, Director Henry N. Nassau bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $17.52 per share, for a total transaction of $175,200.00. Following the transaction, the director now directly owns 165,557 shares of the company’s stock, valued at approximately $2,900,558.64. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Katharine A. Keenan bought 16,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $17.16 per share, for a total transaction of $274,560.00. Following the transaction, the chief executive officer now owns 198,960 shares of the company’s stock, valued at approximately $3,414,153.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 83,050 shares of company stock worth $1,448,135 and sold 1,495 shares worth $27,899. 0.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They set a “peer perform” rating on the stock. Wells Fargo & Company lifted their price target on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. JMP Securities restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, July 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average price target of $20.08.

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.