Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886,570 shares of the real estate investment trust’s stock after buying an additional 84,709 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.51% of Blackstone Mortgage Trust worth $15,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in BXMT. Millennium Management LLC grew its holdings in Blackstone Mortgage Trust by 308.3% during the 4th quarter. Millennium Management LLC now owns 1,143,826 shares of the real estate investment trust’s stock valued at $24,215,000 after buying an additional 863,715 shares in the last quarter. Norges Bank purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at $14,268,000. Marshall Wace LLP purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at $13,838,000. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at $7,783,000. Finally, Vanguard Group Inc. grew its holdings in shares of Blackstone Mortgage Trust by 2.2% in the first quarter. Vanguard Group Inc. now owns 15,060,492 shares of the real estate investment trust’s stock valued at $478,773,000 after purchasing an additional 327,988 shares in the last quarter. 53.63% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on BXMT. JPMorgan Chase & Co. raised their target price on shares of Blackstone Mortgage Trust from $18.50 to $21.00 in a report on Monday, July 24th. BTIG Research raised their target price on shares of Blackstone Mortgage Trust from $19.00 to $24.00 and gave the company a “buy” rating in a report on Monday, July 17th. Keefe, Bruyette & Woods lowered their price target on Blackstone Mortgage Trust from $25.00 to $18.00 and set a “market perform” rating for the company in a research report on Thursday, April 13th. StockNews.com started coverage on Blackstone Mortgage Trust in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Citigroup raised their price target on Blackstone Mortgage Trust from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.40.
Blackstone Mortgage Trust Trading Up 1.5 %
Blackstone Mortgage Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $2.48 annualized dividend and a dividend yield of 10.93%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 158.98%.
Insider Transactions at Blackstone Mortgage Trust
In other news, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction on Friday, June 9th. The stock was 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 SEC, which can be accessed through the SEC website. In other news, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction on Friday, June 9th. The stock was 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 SEC, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 4,549 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $18.36, for a total value of $83,519.64. Following the transaction, the chief executive officer now owns 159,428 shares in the company, valued at approximately $2,927,098.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,880 shares of company stock worth $186,367. 1.02% of the stock is currently owned by insiders.
Blackstone Mortgage Trust Profile
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.
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