Choreo LLC Trims Stock Position in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Choreo LLC trimmed its stake by 21.7% in Q4, selling 64,234 shares and now owning 232,024 shares (about 0.14%) of Blackstone Mortgage Trust worth $4.585 million.
• Blackstone Mortgage Trust announced a quarterly dividend of $0.47 (annualized $1.88), implying a 9.6% yield and a payout ratio of 289.23%.
• President Fernando Austin Pena sold 1,666 shares on March 31 at an average price of $18.88, lowering his ownership by 2.12% to 76,967 shares.

Choreo LLC lessened its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 21.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232,024 shares of the real estate investment trust's stock after selling 64,234 shares during the period. Choreo LLC owned 0.14% of Blackstone Mortgage Trust worth $4,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new stake in shares of Blackstone Mortgage Trust in the third quarter valued at about $25,000. Jones Financial Companies Lllp lifted its holdings in shares of Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 536 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Blackstone Mortgage Trust in the third quarter valued at about $37,000. ORG Partners LLC purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $41,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Blackstone Mortgage Trust in the third quarter valued at about $46,000. Hedge funds and other institutional investors own 64.15% of the company's stock.

Insider Buying and Selling

In related news, President Fernando Austin Pena sold 1,666 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total transaction of $31,454.08. Following the completion of the transaction, the president owned 76,967 shares of the company's stock, valued at approximately $1,453,136.96. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.02% of the company's stock.

Blackstone Mortgage Trust Price Performance

NYSE:BXMT opened at $19.59 on Monday. The firm has a 50 day simple moving average of $19.22 and a 200-day simple moving average of $19.11. The firm has a market cap of $3.31 billion, a PE ratio of 30.14 and a beta of 1.00. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.71 and a 1-year high of $20.67.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.88 annualized dividend and a yield of 9.6%. Blackstone Mortgage Trust's dividend payout ratio is 289.23%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BTIG Research reaffirmed a "buy" rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Blackstone Mortgage Trust in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Finally, Zacks Research raised shares of Blackstone Mortgage Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

Blackstone Mortgage Trust Profile

Blackstone Mortgage Trust, Inc NYSE: BXMT is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm's core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.

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