Kingstone Capital Partners Texas LLC Makes New Investment in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Kingstone Capital Partners Texas LLC invested $35.10 million in Blackstone Mortgage Trust, acquiring approximately 1.06% of the company’s shares.
• A recent analysis shows a mixed outlook with one analyst rating the stock as a Buy while four others have given it a Hold rating, resulting in a consensus price target of $19.50.
• Blackstone Mortgage Trust announced a quarterly dividend of $0.47, which translates to an annualized dividend yield of 9.7% for shareholders.

Kingstone Capital Partners Texas LLC bought a new stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,823,432 shares of the real estate investment trust's stock, valued at approximately $35,101,000. Kingstone Capital Partners Texas LLC owned about 1.06% of Blackstone Mortgage Trust as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Blackstone Mortgage Trust by 17.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,793 shares of the real estate investment trust's stock valued at $730,000 after buying an additional 5,415 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Blackstone Mortgage Trust by 2.1% during the second quarter. Parallel Advisors LLC now owns 43,660 shares of the real estate investment trust's stock valued at $840,000 after purchasing an additional 888 shares in the last quarter. Strs Ohio bought a new stake in shares of Blackstone Mortgage Trust during the first quarter valued at about $650,000. Advisors Capital Management LLC raised its stake in shares of Blackstone Mortgage Trust by 5.8% during the first quarter. Advisors Capital Management LLC now owns 1,033,015 shares of the real estate investment trust's stock valued at $20,660,000 after purchasing an additional 56,526 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Blackstone Mortgage Trust by 5.0% during the first quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust's stock valued at $1,474,000 after purchasing an additional 3,478 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

Blackstone Mortgage Trust Stock Down 1.8%

Blackstone Mortgage Trust stock traded down $0.35 during midday trading on Monday, hitting $19.06. The company's stock had a trading volume of 968,186 shares, compared to its average volume of 1,416,680. The stock's 50-day moving average price is $19.30 and its 200-day moving average price is $19.29. Blackstone Mortgage Trust, Inc. has a 12 month low of $16.51 and a 12 month high of $21.24. The company has a market capitalization of $3.27 billion, a PE ratio of -272.21 and a beta of 1.16.

Blackstone Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.47 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.88 annualized dividend and a yield of 9.9%. Blackstone Mortgage Trust's payout ratio is -2,685.71%.

Analyst Upgrades and Downgrades

BXMT has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. 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 research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.50.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total value of $89,517.57. Following the sale, the chief executive officer directly owned 230,006 shares in the company, valued at approximately $4,482,816.94. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,818 shares of company stock valued at $171,190 in the last quarter. 1.02% of the stock is currently owned by insiders.

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.