Charles Schwab Investment Management Inc. Acquires 63,953 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Blackstone Mortgage Trust by 2.5%, owning a total of approximately 1.51% of the company, worth around $51.98 million.
• Multiple institutional investors boosted their positions in Blackstone Mortgage Trust, with holdings growing notably, including a 187.8% increase by GAMMA Investing LLC.
• The company recently declared a quarterly dividend of $0.47, which yields 10.0%, while insiders sold 9,248 shares valued at $177,028 over the last 90 days.

Charles Schwab Investment Management Inc. grew its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,598,933 shares of the real estate investment trust's stock after purchasing an additional 63,953 shares during the period. Charles Schwab Investment Management Inc. owned about 1.51% of Blackstone Mortgage Trust worth $51,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Balyasny Asset Management L.P. lifted its stake in Blackstone Mortgage Trust by 39.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust's stock valued at $49,315,000 after purchasing an additional 801,083 shares during the last quarter. Blackstone Inc. increased its holdings in shares of Blackstone Mortgage Trust by 8.2% during the fourth quarter. Blackstone Inc. now owns 8,601,492 shares of the real estate investment trust's stock worth $149,752,000 after buying an additional 652,537 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Blackstone Mortgage Trust by 473.3% during the fourth quarter. Millennium Management LLC now owns 625,060 shares of the real estate investment trust's stock worth $10,882,000 after buying an additional 516,023 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at $8,118,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at $4,862,000. 64.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BXMT shares. JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. Keefe, Bruyette & Woods cut 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 note on Thursday, July 31st. Finally, 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 note on Tuesday, July 15th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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 shares were 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 directly owned 64,082 shares in the company, valued at approximately $1,230,374.40. This trade represents a 2.31% decrease in their ownership of the stock. The transaction 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 Blackstone Mortgage Trust stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $19.13, for a total transaction of $132,590.03. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,248 shares of company stock valued at $177,028 in the last quarter. 1.02% of the stock is currently owned by company insiders.

Blackstone Mortgage Trust Trading Up 0.2%

NYSE:BXMT traded up $0.0350 on Wednesday, reaching $18.9450. 260,487 shares of the stock traded hands, compared to its average volume of 1,461,435. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24. The company's 50 day moving average is $19.33 and its 200-day moving average is $19.34. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -270.79 and a beta of 1.12.

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 given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 9.9%. Blackstone Mortgage Trust's dividend payout ratio (DPR) is -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.