First Trust Advisors LP lowered its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) by 24.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,536 shares of the real estate investment trust’s stock after selling 114,066 shares during the period. First Trust Advisors LP owned approximately 0.20% of Blackstone Mortgage Trust worth $7,400,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Blackstone Mortgage Trust by 1.1% during the third quarter. Vanguard Group Inc. now owns 15,544,123 shares of the real estate investment trust’s stock valued at $362,800,000 after buying an additional 162,232 shares during the period. State Street Corp raised its stake in shares of Blackstone Mortgage Trust by 1.8% during the third quarter. State Street Corp now owns 3,483,000 shares of the real estate investment trust’s stock valued at $83,443,000 after acquiring an additional 62,812 shares in the last quarter. LDR Capital Management LLC raised its stake in shares of Blackstone Mortgage Trust by 4.8% during the fourth quarter. LDR Capital Management LLC now owns 1,971,714 shares of the real estate investment trust’s stock valued at $41,741,000 after acquiring an additional 90,859 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Blackstone Mortgage Trust by 3.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,916,803 shares of the real estate investment trust’s stock valued at $60,936,000 after acquiring an additional 69,295 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Blackstone Mortgage Trust by 17.6% during the first quarter. 1832 Asset Management L.P. now owns 1,848,316 shares of the real estate investment trust’s stock valued at $57,950,000 after acquiring an additional 277,202 shares in the last quarter. Hedge funds and other institutional investors own 54.01% of the company’s stock.
Insider Activity
In related news, Director Henry N. Nassau acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were purchased at an average cost of $17.81 per share, with a total value of $178,100.00. Following the completion of the acquisition, the director now directly owns 127,348 shares of the company’s stock, valued at $2,268,067.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael B. Nash acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average cost of $17.22 per share, with a total value of $861,000.00. Following the completion of the acquisition, the director now directly owns 518,455 shares of the company’s stock, valued at $8,927,795.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Henry N. Nassau purchased 10,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was acquired at an average cost of $17.81 per share, for a total transaction of $178,100.00. Following the completion of the acquisition, the director now owns 127,348 shares of the company’s stock, valued at approximately $2,268,067.88. The disclosure for this purchase can be found here. Insiders have purchased 110,000 shares of company stock valued at $1,982,100 over the last ninety days. 1.06% of the stock is currently owned by insiders.
Blackstone Mortgage Trust Trading Down 1.6 %
Blackstone Mortgage Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.95%. The ex-dividend date was Thursday, March 30th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 163.16%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on BXMT. Citigroup decreased their price target on shares of Blackstone Mortgage Trust from $24.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 6th. BTIG Research initiated coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, April 25th. They set a “buy” rating and a $19.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone Mortgage Trust from $25.00 to $18.00 and set a “market perform” rating for the company in a research note on Thursday, April 13th. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone Mortgage Trust from $23.00 to $18.00 in a research note on Monday, April 24th. Finally, StockNews.com initiated coverage on shares of Blackstone Mortgage Trust in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.80.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc is a real estate finance company, which engages in originating senior loans collateralized by commercial real estate. Its investment objective is to preserve and protect shareholder capital while producing risk-adjusted returns primarily through dividends generated from current income from its loan portfolio.
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