Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Bought by Gabelli Funds LLC

Posted by Defense World Staff on Jun 11th, 2023

Gabelli Funds LLC grew its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) by 11.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 158,500 shares of the real estate investment trust’s stock after acquiring an additional 16,000 shares during the period. Gabelli Funds LLC owned about 0.09% of Blackstone Mortgage Trust worth $3,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BXMT. EverSource Wealth Advisors LLC raised its stake in Blackstone Mortgage Trust by 4,842.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,598 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Blackstone Mortgage Trust during the 3rd quarter valued at $43,000. Catalyst Capital Advisors LLC raised its stake in Blackstone Mortgage Trust by 19.4% during the 4th quarter. Catalyst Capital Advisors LLC now owns 3,200 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 520 shares during the period. Covestor Ltd raised its stake in Blackstone Mortgage Trust by 153.4% during the 1st quarter. Covestor Ltd now owns 4,981 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 3,015 shares during the period. Finally, Moors & Cabot Inc. acquired a new stake in Blackstone Mortgage Trust during the 1st quarter valued at $200,000. Institutional investors and hedge funds own 54.01% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock opened at $19.62 on Friday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 12.91 and a beta of 1.33. Blackstone Mortgage Trust, Inc. has a one year low of $16.60 and a one year high of $31.46. The company’s fifty day moving average price is $17.89 and its two-hundred day moving average price is $20.55.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 12.64%. The ex-dividend date was Thursday, March 30th. Blackstone Mortgage Trust’s payout ratio is 163.16%.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $19.79, for a total transaction of $45,022.25. Following the transaction, the chief executive officer now directly owns 155,993 shares of the company’s stock, valued at $3,087,101.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $19.79, for a total transaction of $45,022.25. Following the completion of the sale, the chief executive officer now directly owns 155,993 shares in the company, valued at $3,087,101.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael B. Nash purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were purchased at an average price 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 disclosure for this purchase can be found here. Over the last three months, insiders have acquired 110,000 shares of company stock valued at $1,982,100 and have sold 9,880 shares valued at $186,367. Company insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup cut their target price on shares of Blackstone Mortgage Trust from $24.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, April 6th. BTIG Research assumed coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, April 25th. They issued a “buy” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Blackstone Mortgage Trust from $25.00 to $18.00 and set a “market perform” rating on the stock in a research note on Thursday, April 13th. JPMorgan Chase & Co. dropped their price target on shares of Blackstone Mortgage Trust from $23.00 to $18.00 in a research note on Monday, April 24th. Finally, StockNews.com assumed coverage on shares of Blackstone Mortgage Trust in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.80.

Blackstone Mortgage Trust Company Profile

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Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company, together with its subsidiaries, originates and acquires commercial mortgage loans and related investments. It operates as a real estate investment trust for federal income tax purposes.