Gabelli Funds LLC Sells 36,500 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Gabelli Funds LLC reduced its stake in Blackstone Mortgage Trust by 18.3%, holding approximately 163,500 shares worth $3.27 million as of the last SEC filing.
• The company announced a quarterly dividend of $0.47 per share, with an annualized yield of 9.6%, though its payout ratio is significantly negative at -2,685.71%.
• Analysts have mixed views on the stock, with two analysts rating it a Buy while four issued a Hold rating, and the average price target is set at $20.00.

Gabelli Funds LLC lessened its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,500 shares of the real estate investment trust's stock after selling 36,500 shares during the quarter. Gabelli Funds LLC owned 0.10% of Blackstone Mortgage Trust worth $3,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Blackstone Mortgage Trust by 1.9% during the first quarter. Principal Financial Group Inc. now owns 854,617 shares of the real estate investment trust's stock valued at $17,092,000 after acquiring an additional 15,644 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Blackstone Mortgage Trust by 45.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust's stock worth $422,000 after purchasing an additional 6,571 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of Blackstone Mortgage Trust in the first quarter worth $561,000. Cetera Investment Advisers raised its stake in shares of Blackstone Mortgage Trust by 19.1% in the first quarter. Cetera Investment Advisers now owns 147,753 shares of the real estate investment trust's stock worth $2,955,000 after purchasing an additional 23,716 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Blackstone Mortgage Trust in the first quarter worth approximately $819,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the 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 completion of the sale, the chief executive officer directly owned 236,914 shares of the company's stock, valued at $4,532,164.82. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total transaction of $29,126.40. Following the completion of the transaction, the chief financial officer directly owned 64,082 shares in the company, valued at $1,230,374.40. This trade represents a 2.31% decrease in their position. 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 ninety days. 1.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BXMT has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped 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. UBS Group raised their target price 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. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.00.

Blackstone Mortgage Trust Trading Up 0.3%

NYSE BXMT traded up $0.06 on Wednesday, reaching $19.41. 368,741 shares of the stock were exchanged, compared to its average volume of 1,424,738. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24. The firm has a market capitalization of $3.33 billion, a PE ratio of -277.21 and a beta of 1.16. The company's 50-day simple moving average is $19.32 and its two-hundred day simple moving average is $19.36.

Blackstone Mortgage Trust Dividend Announcement

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

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.