QRG Capital Management Inc. cut its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 83.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,883 shares of the real estate investment trust's stock after selling 219,234 shares during the quarter. QRG Capital Management Inc.'s holdings in Blackstone Mortgage Trust were worth $864,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone Mortgage Trust by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,598,933 shares of the real estate investment trust's stock worth $51,979,000 after buying an additional 63,953 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter worth about $35,101,000. Advisors Capital Management LLC boosted its position in shares of Blackstone Mortgage Trust by 5.8% in the 1st quarter. Advisors Capital Management LLC now owns 1,033,015 shares of the real estate investment trust's stock worth $20,660,000 after buying an additional 56,526 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Blackstone Mortgage Trust by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 854,617 shares of the real estate investment trust's stock worth $17,092,000 after buying an additional 15,644 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Blackstone Mortgage Trust by 696.6% in the 1st quarter. MetLife Investment Management LLC now owns 843,692 shares of the real estate investment trust's stock worth $16,874,000 after buying an additional 737,778 shares in the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BXMT has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Blackstone Mortgage Trust in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $19.50.
Get Our Latest Analysis on BXMT
Insider Buying and Selling at Blackstone Mortgage Trust
In related news, CEO Katharine A. Keenan sold 4,593 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total transaction of $89,517.57. Following the completion of the sale, the chief executive officer owned 230,006 shares of the company's stock, valued at approximately $4,482,816.94. This represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 8,818 shares of company stock worth $171,190. Corporate insiders own 1.02% of the company's stock.
Blackstone Mortgage Trust Price Performance
Shares of BXMT stock opened at $18.39 on Thursday. The firm has a market cap of $3.16 billion, a P/E ratio of -262.71 and a beta of 1.15. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24. The firm's 50-day simple moving average is $19.09 and its 200-day simple moving average is $19.13.
Blackstone Mortgage Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 10.2%. The ex-dividend date is Tuesday, September 30th. Blackstone Mortgage Trust's dividend payout ratio is presently -2,685.71%.
Blackstone Mortgage Trust Company Profile
(
Free Report)
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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