GAMMA Investing LLC bought a new stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 2,268 shares of the real estate investment trust’s stock, valued at approximately $45,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Bank & Trust Co. acquired a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth $25,000. Sandy Spring Bank raised its stake in Blackstone Mortgage Trust by 10,652.0% during the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 2,663 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Blackstone Mortgage Trust by 4,986.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,613 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 6,483 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter valued at approximately $202,000. Finally, Independent Advisor Alliance bought a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at approximately $207,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Mortgage Trust Price Performance
Blackstone Mortgage Trust stock opened at $17.99 on Friday. The firm has a market cap of $3.12 billion, a P/E ratio of 599.67 and a beta of 1.44. The stock’s 50 day moving average is $19.33 and its 200 day moving average is $20.47. Blackstone Mortgage Trust, Inc. has a one year low of $16.83 and a one year high of $23.82.
Blackstone Mortgage Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.79%. The ex-dividend date was Wednesday, March 27th. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on BXMT. BTIG Research dropped their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. UBS Group reduced their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company reduced their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.93.
Check Out Our Latest Research Report on BXMT
Insider Transactions at Blackstone Mortgage Trust
In related news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock worth $112,642 over the last three months. 1.02% of the stock is owned by company insiders.
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.
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