Envestnet Asset Management Inc. Has $1.16 Million Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Blackstone Mortgage Trust by 32.7%, acquiring an additional 14,311 shares during the first quarter, bringing its total to 58,076 shares valued at approximately $1.16 million.
• Various hedge funds made significant recent investments in Blackstone Mortgage Trust, with the stock now owned 64.15% by institutional investors, indicating strong confidence in the real estate investment trust.
• The company recently declared a quarterly dividend of $0.47 per share, resulting in a 10.1% annualized dividend yield, reflecting an aggressive payout strategy despite a high dividend payout ratio of -2,685.71%.

Envestnet Asset Management Inc. lifted its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 32.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,076 shares of the real estate investment trust's stock after acquiring an additional 14,311 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Blackstone Mortgage Trust were worth $1,162,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its stake in Blackstone Mortgage Trust by 5.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,165 shares of the real estate investment trust's stock valued at $316,000 after acquiring an additional 967 shares during the last quarter. Glassy Mountain Advisors Inc. raised its stake in shares of Blackstone Mortgage Trust by 1.8% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 57,149 shares of the real estate investment trust's stock valued at $1,143,000 after purchasing an additional 998 shares during the period. GAMMA Investing LLC grew its stake in shares of Blackstone Mortgage Trust by 187.8% during the 1st quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 1,944 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Blackstone Mortgage Trust by 6.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 37,345 shares of the real estate investment trust's stock worth $650,000 after buying an additional 2,375 shares during the last quarter. Finally, Rossby Financial LCC acquired a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth approximately $49,000. Institutional investors own 64.15% of the company's stock.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 64,082 shares of the company's stock, valued at approximately $1,230,374.40. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan sold 6,931 shares of Blackstone Mortgage Trust stock in a transaction that occurred 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 sale, the chief executive officer directly owned 236,914 shares in the company, valued at $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. In the last quarter, insiders sold 9,248 shares of company stock worth $177,028. Corporate insiders own 1.02% of the company's stock.

Blackstone Mortgage Trust Trading Down 0.4%

BXMT stock traded down $0.09 during mid-day trading on Tuesday, hitting $18.82. The stock had a trading volume of 345,774 shares, compared to its average volume of 1,500,031. The firm has a fifty day simple moving average of $19.34 and a 200 day simple moving average of $19.28. The firm has a market capitalization of $3.23 billion, a P/E ratio of -268.79 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.47 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 10.0%. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently -2,685.71%.

Analyst Ratings Changes

Several research firms have recently commented on BXMT. JPMorgan Chase & Co. decreased their target price on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. UBS Group increased their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating for the company in a research report on Thursday, July 31st. Finally, JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.