Blackstone Mortgage Trust, Inc. $BXMT Shares Newly Bought by GraniteShares Advisors LLC

Key Points

• GraniteShares Advisors LLC purchased 212,518 shares of Blackstone Mortgage Trust, valued at approximately $2.43 million, giving it a 0.13% stake. Institutional investors collectively own 64.15% of BXMT.
• BXMT shares opened at $11.28 and have traded between $10.11 and $20.67 over the past year. The company beat quarterly EPS estimates, reporting $0.38 versus the expected $0.24, despite revenue falling short of forecasts.
• Blackstone Mortgage Trust cut its quarterly dividend to $0.30 from $0.47, implying a 10.6% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $18.40.

GraniteShares Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 212,518 shares of the real estate investment trust's stock, valued at approximately $2,433,000. GraniteShares Advisors LLC owned 0.13% of Blackstone Mortgage Trust at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BXMT. Bank of America Corp DE boosted its position 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 valued at $24,839,000 after acquiring an additional 233,357 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Blackstone Mortgage Trust during the 2nd quarter worth approximately $18,109,000. Principal Financial Group Inc. raised its position in shares of Blackstone Mortgage Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 770,901 shares of the real estate investment trust's stock worth $14,763,000 after acquiring an additional 19,423 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Blackstone Mortgage Trust by 0.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 483,624 shares of the real estate investment trust's stock valued at $9,261,000 after purchasing an additional 2,971 shares during the period. Finally, Dupree Financial Group LLC lifted its stake in shares of Blackstone Mortgage Trust by 85.1% in the 3rd quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust's stock valued at $6,834,000 after purchasing an additional 274,361 shares during the period. 64.15% of the stock is owned by institutional investors.

Blackstone Mortgage Trust Price Performance

BXMT opened at $11.28 on Tuesday. The firm has a market cap of $1.90 billion, a PE ratio of 6.73, a P/E/G ratio of 0.24 and a beta of 0.92. The stock has a 50-day moving average price of $12.18 and a 200-day moving average price of $16.67. Blackstone Mortgage Trust, Inc. has a 1 year low of $10.11 and a 1 year high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.24 by $0.14. The company had revenue of $141.90 million for the quarter, compared to the consensus estimate of $148.60 million. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. As a group, sell-side analysts anticipate that Blackstone Mortgage Trust, Inc. will post 0.91 EPS for the current year.

Blackstone Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.30 dividend. This is a drop from Blackstone Mortgage Trust's previous quarterly dividend of $0.47. This represents a $1.20 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Thursday, December 31st. Blackstone Mortgage Trust's payout ratio is currently -84.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company dropped 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. Citigroup reiterated a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Tuesday, August 25th. Zacks Research raised shares of Blackstone Mortgage Trust from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone Mortgage Trust from $13.00 to $12.00 and set a "market perform" rating on the stock in a research report on Friday. Finally, Raymond James Financial lowered 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, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of "Hold" and an average target price of $18.40.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.

Want to see what other hedge funds are holding BXMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.