Cerity Partners LLC lifted its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) by 114.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,987 shares of the real estate investment trust’s stock after buying an additional 52,771 shares during the quarter. Cerity Partners LLC’s holdings in Blackstone Mortgage Trust were worth $2,105,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its position in Blackstone Mortgage Trust by 14.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 60,571 shares of the real estate investment trust’s stock valued at $1,926,000 after purchasing an additional 7,506 shares during the last quarter. US Bancorp DE raised its position in Blackstone Mortgage Trust by 11.8% in the 1st quarter. US Bancorp DE now owns 18,508 shares of the real estate investment trust’s stock valued at $588,000 after purchasing an additional 1,957 shares during the last quarter. Cetera Advisor Networks LLC raised its position in Blackstone Mortgage Trust by 43.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,607 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 3,802 shares during the last quarter. MetLife Investment Management LLC raised its position in Blackstone Mortgage Trust by 50.6% in the 1st quarter. MetLife Investment Management LLC now owns 82,945 shares of the real estate investment trust’s stock valued at $2,637,000 after purchasing an additional 27,873 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in Blackstone Mortgage Trust in the 1st quarter valued at $200,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. BTIG Research reduced their price target on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group cut their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. JPMorgan Chase & Co. cut their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Bank of America downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.83.
Check Out Our Latest Analysis on Blackstone Mortgage Trust
Insider Transactions at Blackstone Mortgage Trust
In other news, CEO Katharine A. Keenan sold 2,275 shares of the company’s 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 transaction, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Katharine A. Keenan sold 2,275 shares of the company’s 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 transaction, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction 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 $3,967,565.16. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock valued at $112,642 in the last ninety days. 1.02% of the stock is currently owned by company insiders.
Blackstone Mortgage Trust Stock Performance
Shares of Blackstone Mortgage Trust stock opened at $18.55 on Friday. The company has a market cap of $3.22 billion, a P/E ratio of 13.15 and a beta of 1.42. Blackstone Mortgage Trust, Inc. has a one year low of $16.83 and a one year high of $23.82. The firm has a fifty day moving average of $19.57 and a two-hundred day moving average of $20.66.
Blackstone Mortgage Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.37%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 175.89%.
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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