Crewe Advisors LLC Acquires New Holdings in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Crewe Advisors LLC acquired a new stake of 56,113 shares in Blackstone Mortgage Trust, valued at approximately $1,080,000, during Q2 according to a recent SEC filing.
• Blackstone Mortgage Trust announced a quarterly dividend of $0.47, with a yield of 10.5%, paid on October 15th to shareholders of record as of September 30th.
• Analysts have given Blackstone Mortgage Trust a consensus rating of "Hold", with an average target price of $19.63; however, Weiss Ratings has a "sell (d+)" rating on the stock.

Crewe Advisors LLC acquired a new stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,113 shares of the real estate investment trust's stock, valued at approximately $1,080,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. True North Advisors LLC raised its position in Blackstone Mortgage Trust by 2.2% in the first quarter. True North Advisors LLC now owns 24,509 shares of the real estate investment trust's stock worth $490,000 after acquiring an additional 516 shares during the period. Jones Financial Companies Lllp raised its position in 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 worth $34,000 after acquiring an additional 536 shares during the period. Parallel Advisors LLC raised its position in Blackstone Mortgage Trust by 2.1% in the second quarter. Parallel Advisors LLC now owns 43,660 shares of the real estate investment trust's stock worth $840,000 after acquiring an additional 888 shares during the period. KLP Kapitalforvaltning AS raised its position in Blackstone Mortgage Trust by 2.7% in the second quarter. KLP Kapitalforvaltning AS now owns 34,600 shares of the real estate investment trust's stock worth $680,000 after acquiring an additional 900 shares during the period. Finally, Glassy Mountain Advisors Inc. raised its position in Blackstone Mortgage Trust by 1.8% in the first quarter. Glassy Mountain Advisors Inc. now owns 57,149 shares of the real estate investment trust's stock worth $1,143,000 after acquiring an additional 998 shares during the period. Institutional investors own 64.15% of the company's stock.

Blackstone Mortgage Trust Stock Performance

BXMT opened at $17.83 on Monday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -254.71 and a beta of 1.15. The company has a fifty day moving average of $19.01 and a 200 day moving average of $19.02. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently -2,685.71%.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of Blackstone Mortgage Trust stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total value of $89,517.57. Following the completion of the transaction, the chief executive officer directly owned 230,006 shares of the company's stock, valued at $4,482,816.94. This trade represents a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 8,818 shares of company stock valued at $171,190. Company insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BXMT shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Blackstone Mortgage Trust in a research report on Wednesday, October 8th. UBS Group increased their price target 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust has a consensus rating of "Hold" and an average target price of $19.63.

Blackstone Mortgage Trust Company 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.

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