Invesco Ltd. Reduces Stock Position in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Invesco Ltd. has reduced its holdings in Blackstone Mortgage Trust, Inc. by 15.0%, owning 492,283 shares worth approximately $9.8 million after selling 86,721 shares in the first quarter.
• CEO Katharine A. Keenan recently sold 6,931 shares of Blackstone Mortgage Trust stock for $132,590, decreasing her ownership stake by 2.84%.
• The company announced a quarterly dividend of $0.47 per share, providing an annualized dividend yield of 9.6% despite an exceptionally high dividend payout ratio.

Invesco Ltd. lessened its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,283 shares of the real estate investment trust's stock after selling 86,721 shares during the quarter. Invesco Ltd. owned about 0.29% of Blackstone Mortgage Trust worth $9,846,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Balyasny Asset Management L.P. raised its position in Blackstone Mortgage Trust by 39.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust's stock worth $49,315,000 after acquiring an additional 801,083 shares in the last quarter. Blackstone Inc. raised its position in Blackstone Mortgage Trust by 8.2% in the fourth quarter. Blackstone Inc. now owns 8,601,492 shares of the real estate investment trust's stock worth $149,752,000 after acquiring an additional 652,537 shares in the last quarter. Millennium Management LLC raised its position in Blackstone Mortgage Trust by 473.3% in the fourth quarter. Millennium Management LLC now owns 625,060 shares of the real estate investment trust's stock worth $10,882,000 after acquiring an additional 516,023 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Blackstone Mortgage Trust in the fourth quarter worth $8,118,000. Finally, Point72 Asset Management L.P. purchased a new position in Blackstone Mortgage Trust in the fourth quarter worth $4,862,000. Hedge funds and other institutional investors own 64.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BXMT shares. Keefe, Bruyette & Woods cut their price objective on 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. 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.00.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $4,532,164.82. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the company's stock in a transaction 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 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 9,248 shares of company stock worth $177,028 in the last three months. 1.02% of the stock is owned by corporate insiders.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock traded up $0.13 during trading hours on Friday, hitting $19.55. The stock had a trading volume of 582,596 shares, compared to its average volume of 942,757. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -279.30 and a beta of 1.12. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24. The stock's fifty day moving average is $19.33 and its two-hundred day moving average is $19.37.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 annualized dividend and a yield of 9.6%. Blackstone Mortgage Trust's dividend 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.