40,965 Shares in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP purchased 40,965 shares of Blackstone Mortgage Trust, valued at approximately $819,000, during the first quarter.
• Blackstone Mortgage Trust recently announced a quarterly dividend of $0.47 per share, with a dividend yield of 9.9%.
• Analysts have mixed views on the stock, with consensus ratings indicating a "Hold" status and an average price target of $20.00.

Entropy Technologies LP acquired a new stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,965 shares of the real estate investment trust's stock, valued at approximately $819,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rossby Financial LCC bought a new stake in shares of Blackstone Mortgage Trust in the first quarter worth about $49,000. GAMMA Investing LLC increased its holdings in shares of Blackstone Mortgage Trust by 187.8% in the first quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 1,944 shares during the last quarter. Wellington Shields & Co. LLC lifted its stake in shares of Blackstone Mortgage Trust by 39.8% during the 1st quarter. Wellington Shields & Co. LLC now owns 4,410 shares of the real estate investment trust's stock worth $88,000 after buying an additional 1,255 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Blackstone Mortgage Trust by 18,595.8% during the 1st quarter. Sound Income Strategies LLC now owns 4,487 shares of the real estate investment trust's stock worth $90,000 after purchasing an additional 4,463 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Blackstone Mortgage Trust by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,471 shares of the real estate investment trust's stock worth $95,000 after purchasing an additional 4,873 shares during the last quarter. Institutional investors own 64.15% of the company's stock.

Insider Activity

In related news, CEO Katharine A. Keenan sold 6,931 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total transaction of $132,590.03. Following the sale, the chief executive officer owned 236,914 shares in the company, valued at $4,532,164.82. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total value of $29,126.40. Following the transaction, the chief financial officer directly owned 64,082 shares in the company, valued at approximately $1,230,374.40. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,248 shares of company stock worth $177,028. 1.02% of the stock is owned by corporate insiders.

Blackstone Mortgage Trust Stock Down 1.1%

Shares of NYSE BXMT traded down $0.21 during trading on Friday, reaching $18.84. The company had a trading volume of 1,068,577 shares, compared to its average volume of 1,141,244. The company's fifty day moving average price is $19.35 and its 200-day moving average price is $19.33. Blackstone Mortgage Trust, Inc. has a 12 month low of $16.51 and a 12 month high of $21.24. The stock has a market cap of $3.23 billion, a P/E ratio of -269.14 and a beta of 1.12.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.47 per share. The ex-dividend date was Monday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 10.0%. Blackstone Mortgage Trust's dividend payout ratio is presently -2,685.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group lifted their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. JMP Securities reaffirmed a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods lowered their price target on Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating for the company in a report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.00.

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 originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.