Capital Trust, Inc. (BXMT) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Capital Trust, Inc. (NYSE:BXMT) from a hold rating to a buy rating in a report published on Monday morning. Zacks Investment Research currently has $36.00 price objective on the real estate investment trust’s stock.
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. “
BXMT has been the topic of several other reports. BidaskClub cut Capital Trust from a strong-buy rating to a buy rating in a report on Saturday, July 8th. Keefe, Bruyette & Woods reaffirmed an outperform rating on shares of Capital Trust in a report on Tuesday, July 4th. Finally, FBR & Co upped their price objective on Capital Trust from $32.00 to $33.00 and gave the stock a buy rating in a report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $34.00.
Capital Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. The company had revenue of $78.60 million for the quarter, compared to analysts’ expectations of $74.35 million. Capital Trust had a return on equity of 8.63% and a net margin of 53.85%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.48 annualized dividend and a dividend yield of 7.79%. Capital Trust’s dividend payout ratio (DPR) is 110.22%.
Several institutional investors and hedge funds have recently modified their holdings of BXMT. PNC Financial Services Group Inc. raised its holdings in shares of Capital Trust by 11.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,367 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 544 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Capital Trust during the 1st quarter valued at approximately $345,000. Jane Street Group LLC increased its position in shares of Capital Trust by 51.2% during the 1st quarter. Jane Street Group LLC now owns 14,127 shares of the real estate investment trust’s stock valued at $437,000 after purchasing an additional 4,782 shares during the last quarter. Legal & General Group Plc increased its position in shares of Capital Trust by 91.4% during the 1st quarter. Legal & General Group Plc now owns 16,665 shares of the real estate investment trust’s stock valued at $516,000 after purchasing an additional 7,957 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in shares of Capital Trust by 2.2% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 104,697 shares of the real estate investment trust’s stock valued at $3,308,000 after purchasing an additional 2,220 shares during the last quarter. 61.38% of the stock is currently owned by institutional investors and hedge funds.
About Capital 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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