Truvestments Capital LLC Trims Holdings in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Truvestments Capital LLC has significantly reduced its stake in Blackstone Mortgage Trust, Inc. by 86.4% during the first quarter, decreasing its holdings to 12,778 shares.
• Blackstone Mortgage Trust announced a quarterly dividend of $0.47, representing a yield of 9.7%, despite a notably high dividend payout ratio of -2,685.71%.
• Currently, 64.15% of Blackstone Mortgage Trust's stock is owned by institutional investors, highlighting significant interest from the investment community.

Truvestments Capital LLC decreased its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 86.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,778 shares of the real estate investment trust's stock after selling 81,145 shares during the period. Truvestments Capital LLC's holdings in Blackstone Mortgage Trust were worth $256,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. True North Advisors LLC boosted its stake in 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. boosted 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 buying an additional 998 shares during the period. Kestra Private Wealth Services LLC boosted its stake in Blackstone Mortgage Trust by 0.9% during the first quarter. Kestra Private Wealth Services LLC now owns 114,637 shares of the real estate investment trust's stock valued at $2,293,000 after buying an additional 1,019 shares during the period. Wellington Shields & Co. LLC boosted its stake in Blackstone Mortgage Trust by 39.8% during the first quarter. Wellington Shields & Co. LLC now owns 4,410 shares of the real estate investment trust's stock valued at $88,000 after buying an additional 1,255 shares during the period. Finally, SVB Wealth LLC bought a new stake in Blackstone Mortgage Trust during the first quarter valued at $29,000. 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 business'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 transaction, the chief executive officer owned 236,914 shares in the company, valued at $4,532,164.82. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $19.20, for a total value of $29,126.40. Following the transaction, the chief financial officer owned 64,082 shares in the company, valued at approximately $1,230,374.40. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,248 shares of company stock worth $177,028. Company insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BXMT. Keefe, Bruyette & Woods lowered their price target on Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating on the stock in a research report on Thursday, July 31st. UBS Group raised their price target on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.00.

Blackstone Mortgage Trust Stock Down 1.5%

Shares of BXMT traded down $0.29 during trading hours on Tuesday, hitting $19.28. The company had a trading volume of 556,280 shares, compared to its average volume of 1,429,008. The firm has a market cap of $3.31 billion, a P/E ratio of -274.93 and a beta of 1.16. The stock's 50 day moving average price is $19.33 and its 200 day moving average price is $19.36. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.51 and a 52-week high of $21.24.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.47 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 9.8%. Blackstone Mortgage Trust's payout ratio is currently -2,685.71%.

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.