Deutsche Bank AG Lowers Position in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Deutsche Bank AG reduced its stake in Blackstone Mortgage Trust, Inc. by 9.7%, owning approximately 132,198 shares valued at $2.64 million after selling 14,252 shares in Q1.
• Insider trading shows CEO Katharine A. Keenan and CFO Anthony F. Marone, Jr. have both sold shares recently, reflecting a decrease in their holdings of 2.84% and 2.31%, respectively.
• Blackstone Mortgage Trust declared a quarterly dividend of $0.47 per share, resulting in an annualized dividend of $1.88 and a dividend yield of 10.0%.

Deutsche Bank AG trimmed its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,198 shares of the real estate investment trust's stock after selling 14,252 shares during the quarter. Deutsche Bank AG owned about 0.08% of Blackstone Mortgage Trust worth $2,644,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BXMT. Rossby Financial LCC purchased a new stake in shares of Blackstone Mortgage Trust during the first quarter valued at about $49,000. GAMMA Investing LLC increased its holdings in shares of Blackstone Mortgage Trust by 187.8% during the first quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 1,944 shares in the last quarter. Wellington Shields & Co. LLC increased its holdings in shares of Blackstone Mortgage Trust by 39.8% during the first quarter. Wellington Shields & Co. LLC now owns 4,410 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 1,255 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Blackstone Mortgage Trust by 18,595.8% during the first quarter. Sound Income Strategies LLC now owns 4,487 shares of the real estate investment trust's stock valued at $90,000 after acquiring an additional 4,463 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Blackstone Mortgage Trust by 814.9% during the fourth quarter. Sterling Capital Management LLC now owns 5,471 shares of the real estate investment trust's stock valued at $95,000 after acquiring an additional 4,873 shares in the last quarter. 64.15% of the stock is owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Stock Performance

NYSE BXMT traded down $0.17 during trading hours on Monday, reaching $19.35. The stock had a trading volume of 822,519 shares, compared to its average volume of 1,088,884. The stock has a fifty day moving average of $19.31 and a 200 day moving average of $19.36. The stock has a market cap of $3.32 billion, a P/E ratio of -276.43 and a beta of 1.12. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.51 and a 52-week high of $21.24.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.47 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 9.7%. Blackstone Mortgage Trust's dividend payout ratio is currently -2,685.71%.

Insider Buying and Selling

In related news, CEO Katharine A. Keenan sold 6,931 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 236,914 shares in the company, valued at $4,532,164.82. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the company's stock in a transaction that occurred 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 owned 64,082 shares in the company, valued at approximately $1,230,374.40. This represents a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,248 shares of company stock worth $177,028. 1.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BXMT. UBS Group upped their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods cut their price objective 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. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.00.

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.