Beaird Harris Wealth Management LLC Acquires New Shares in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Beaird Harris Wealth Management LLC acquired 24,023 shares of Blackstone Mortgage Trust, Inc., valued at approximately $480,000, in its first quarter filings.
• Multiple hedge funds increased their stakes in Blackstone Mortgage Trust, with Wellington Shields & Co. LLC reporting a notable 39.8% increase during the same period.
• The company recently declared a quarterly dividend of $0.47 per share, representing an annualized yield of 9.7%, despite experiencing a decrease of 1.2% in stock value.

Beaird Harris Wealth Management LLC acquired a new position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,023 shares of the real estate investment trust's stock, valued at approximately $480,000.

Other hedge funds have also added to or reduced their stakes in the company. True North Advisors LLC increased its position in shares of Blackstone Mortgage Trust by 2.2% during the first quarter. True North Advisors LLC now owns 24,509 shares of the real estate investment trust's stock valued at $490,000 after buying an additional 516 shares during the period. Glassy Mountain Advisors Inc. grew its stake in Blackstone Mortgage Trust by 1.8% during the first quarter. Glassy Mountain Advisors Inc. now owns 57,149 shares of the real estate investment trust's stock valued at $1,143,000 after acquiring an additional 998 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Blackstone Mortgage Trust by 0.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 114,637 shares of the real estate investment trust's stock worth $2,293,000 after acquiring an additional 1,019 shares during the period. Wellington Shields & Co. LLC increased its holdings in 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 acquiring an additional 1,255 shares during the period. Finally, SVB Wealth LLC purchased a new stake in Blackstone Mortgage Trust in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 64.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BXMT. Keefe, Bruyette & Woods decreased 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. UBS Group lifted their price target 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. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.00.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the business'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 completion of the sale, the chief financial officer owned 64,082 shares in the company, valued at approximately $1,230,374.40. The trade was a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Katharine A. Keenan sold 6,931 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $19.13, for a total value of $132,590.03. Following the sale, the chief executive officer directly owned 236,914 shares of the company's stock, valued at approximately $4,532,164.82. This trade represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,248 shares of company stock worth $177,028 over the last ninety days. Insiders own 1.02% of the company's stock.

Blackstone Mortgage Trust Stock Down 1.2%

NYSE BXMT opened at $19.33 on Wednesday. The company has a 50-day simple moving average of $19.32 and a two-hundred day simple moving average of $19.36. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.51 and a 12-month high of $21.24. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -276.17 and a beta of 1.16.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared 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. This represents a $1.88 annualized dividend and a yield of 9.7%. The ex-dividend date was Monday, June 30th. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently -2,685.71%.

About Blackstone Mortgage Trust

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.

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