Bracebridge Capital LLC Sells 25,000 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Bracebridge Capital LLC has reduced its holdings in Blackstone Mortgage Trust, Inc. by 10.3%, now owning 216,700 shares, which constitutes about 0.3% of its investment portfolio.
• Several institutional investors, including Balyasny Asset Management and MetLife Investment Management, have notably increased their holdings in Blackstone Mortgage Trust, indicating a growing interest among large investors.
• The company recently declared a quarterly dividend of $0.47 per share, representing an annualized dividend yield of 9.7%, despite a high payout ratio of -2,685.71%.

Bracebridge Capital LLC trimmed its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,700 shares of the real estate investment trust's stock after selling 25,000 shares during the period. Blackstone Mortgage Trust comprises about 0.3% of Bracebridge Capital LLC's investment portfolio, making the stock its 13th biggest position. Bracebridge Capital LLC owned about 0.13% of Blackstone Mortgage Trust worth $4,334,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of 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 valued at $17,092,000 after acquiring an additional 15,644 shares in the last quarter. Janney Montgomery Scott LLC lifted its position 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 buying an additional 6,571 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust in the first quarter worth about $561,000. Cetera Investment Advisers lifted its position 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 buying an additional 23,716 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Blackstone Mortgage Trust in the first quarter worth about $819,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BXMT. Keefe, Bruyette & Woods decreased their price objective 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 upped their price objective 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 investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $20.00.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total transaction of $29,126.40. Following the transaction, the chief financial officer directly owned 64,082 shares in the company, valued at $1,230,374.40. This trade represents a 2.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 6,931 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,248 shares of company stock worth $177,028 over the last 90 days. 1.02% of the stock is currently owned by company insiders.

Blackstone Mortgage Trust Stock Down 1.2%

NYSE:BXMT traded down $0.23 during midday trading on Tuesday, hitting $19.33. The stock had a trading volume of 913,896 shares, compared to its average volume of 1,431,251. The stock has a 50-day moving average of $19.33 and a 200 day moving average of $19.36. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -276.17 and a beta of 1.16. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued 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.