1,068,362 Shares in Blackstone Mortgage Trust, Inc. $BXMT Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.07 million BXMT shares worth approximately $18.1 million, giving it a 0.63% stake. Institutional investors collectively own 64.15% of Blackstone Mortgage Trust.
• BXMT reported quarterly earnings of $0.31 per share, missing the $0.41 analyst consensus, while revenue of $158.06 million slightly exceeded estimates.
• The stock opened at $13.88, near its 52-week low, and analysts maintain a consensus “Hold” rating with a $19.20 target price. The company’s quarterly dividend is $0.47 per share, representing a 13.5% yield.

Bank of New York Mellon Corp purchased a new stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,068,362 shares of the real estate investment trust's stock, valued at approximately $18,109,000. Bank of New York Mellon Corp owned about 0.63% of Blackstone Mortgage Trust at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BXMT. First Trust Advisors LP lifted its stake in shares of Blackstone Mortgage Trust by 758.3% during the 1st quarter. First Trust Advisors LP now owns 185,148 shares of the real estate investment trust's stock worth $3,546,000 after acquiring an additional 163,577 shares during the last quarter. Bank of America Corp DE grew its holdings in Blackstone Mortgage Trust by 21.9% during the 1st quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust's stock worth $24,839,000 after acquiring an additional 233,357 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Blackstone Mortgage Trust by 75.7% during the first quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust's stock valued at $4,575,000 after buying an additional 102,904 shares during the period. Shikiar Asset Management Inc. raised its position in shares of Blackstone Mortgage Trust by 96.4% in the 1st quarter. Shikiar Asset Management Inc. now owns 174,700 shares of the real estate investment trust's stock worth $3,346,000 after acquiring an additional 85,750 shares in the last quarter. Finally, Independent Financial Group LLC bought a new position in Blackstone Mortgage Trust in the first quarter worth about $4,845,000. Hedge funds and other institutional investors own 64.15% of the company's stock.

Blackstone Mortgage Trust Stock Up 1.1%

Shares of NYSE BXMT opened at $13.88 on Tuesday. The firm has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $17.82. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 154.22, a price-to-earnings-growth ratio of 0.32 and a beta of 0.91. Blackstone Mortgage Trust, Inc. has a 52 week low of $13.61 and a 52 week high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10). The business had revenue of $158.06 million for the quarter, compared to analyst estimates of $157.32 million. Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%. As a group, equities research analysts expect that Blackstone Mortgage Trust, Inc. will post 0.9 EPS for the current year.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 13.5%. Blackstone Mortgage Trust's dividend payout ratio is 2,088.89%.

Analyst Ratings Changes

BXMT has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on Blackstone Mortgage Trust from $22.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price objective on Blackstone Mortgage Trust from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Weiss Ratings downgraded shares of Blackstone Mortgage Trust from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Zacks Research lowered Blackstone Mortgage Trust from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Finally, Raymond James Financial cut shares of Blackstone Mortgage Trust from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.20.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 1,670 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $17.07, for a total transaction of $28,506.90. Following the transaction, the president owned 72,899 shares of the company's stock, valued at approximately $1,244,385.93. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Henry N. Nassau bought 10,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $14.34 per share, with a total value of $143,400.00. Following the completion of the acquisition, the director owned 218,523 shares in the company, valued at $3,133,619.82. This represents a 4.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 5,420 shares of company stock valued at $95,233. Insiders own 1.18% of the company's stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc NYSE: BXMT is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm's core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.

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