Entropy Technologies LP Acquires New Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

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 bought a new stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Blackstone Mortgage Trust by 1.9% in the first quarter. Principal Financial Group Inc. now owns 854,617 shares of the real estate investment trust's stock worth $17,092,000 after purchasing an additional 15,644 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Blackstone Mortgage Trust by 45.2% in the first quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust's stock worth $422,000 after acquiring an additional 6,571 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Blackstone Mortgage Trust by 19.1% in the first quarter. Cetera Investment Advisers now owns 147,753 shares of the real estate investment trust's stock worth $2,955,000 after acquiring an additional 23,716 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Blackstone Mortgage Trust by 48.9% in the fourth quarter. Deutsche Bank AG now owns 146,450 shares of the real estate investment trust's stock worth $2,550,000 after acquiring an additional 48,114 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Blackstone Mortgage Trust by 2.2% in the fourth quarter. Nuveen Asset Management LLC now owns 813,466 shares of the real estate investment trust's stock worth $14,162,000 after acquiring an additional 17,570 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BXMT shares. UBS Group increased their target price on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. JMP Securities reissued a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods cut their target price on Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating on the stock in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.00.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE:BXMT traded down $0.21 during midday trading on Friday, reaching $18.84. 1,068,577 shares of the company's stock traded hands, compared to its average volume of 1,477,190. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -269.14 and a beta of 1.12. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24. The stock has a 50 day moving average of $19.35 and a 200 day moving average of $19.31.

Blackstone Mortgage Trust Announces Dividend

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

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,230,374.40. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan sold 6,931 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total value of $132,590.03. Following the completion of the transaction, the chief executive officer directly owned 236,914 shares in the company, valued at $4,532,164.82. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,248 shares of company stock worth $177,028. Corporate insiders own 1.02% of the company's stock.

Blackstone Mortgage Trust Company 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.