Blackstone Mortgage Trust, Inc. $BXMT Shares Sold by Pacific Capital Partners Ltd

Key Points

• Pacific Capital Partners Ltd has decreased its holdings in Blackstone Mortgage Trust, Inc. by 56.3%, now owning 87,500 shares after selling 112,500 shares in the second quarter.
• Analysts have mixed views on the stock, with Keefe, Bruyette & Woods lowering their price target from $20.00 to $19.50 while UBS Group raised it from $19.50 to $20.00.
• The stock is currently rated as a "Hold" by the consensus, with a market capitalization of $3.35 billion and a recent trading price of $19.51.

Pacific Capital Partners Ltd lowered its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 56.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 87,500 shares of the real estate investment trust's stock after selling 112,500 shares during the period. Blackstone Mortgage Trust comprises about 1.6% of Pacific Capital Partners Ltd's portfolio, making the stock its 21st largest holding. Pacific Capital Partners Ltd owned 0.05% of Blackstone Mortgage Trust worth $1,684,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Strs Ohio purchased a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at about $650,000. Advisors Capital Management LLC increased its stake in shares of Blackstone Mortgage Trust by 5.8% in the 1st 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. Intech Investment Management LLC increased its stake in shares of Blackstone Mortgage Trust by 5.0% in the 1st 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. Bayforest Capital Ltd increased its stake in shares of Blackstone Mortgage Trust by 185.7% in the 1st quarter. Bayforest Capital Ltd now owns 30,719 shares of the real estate investment trust's stock valued at $614,000 after purchasing an additional 19,965 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Blackstone Mortgage Trust by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 570,233 shares of the real estate investment trust's stock valued at $11,405,000 after purchasing an additional 37,838 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Katharine A. Keenan sold 4,593 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $19.49, for a total value of $89,517.57. Following the transaction, the chief executive officer directly owned 230,006 shares in the company, valued at approximately $4,482,816.94. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 8,818 shares of company stock valued at $171,190 in the last 90 days. Corporate insiders own 1.02% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BXMT. Keefe, Bruyette & Woods cut their price target on Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating for the company in a research note on Thursday, July 31st. UBS Group boosted their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of "Hold" and an average price target of $20.00.

Blackstone Mortgage Trust Stock Down 0.3%

Shares of Blackstone Mortgage Trust stock traded down $0.06 on Friday, hitting $19.40. 695,188 shares of the company were exchanged, compared to its average volume of 1,394,012. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -277.16 and a beta of 1.16. The company has a 50-day moving average price of $19.31 and a 200 day moving average price of $19.30. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, September 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%.

About Blackstone Mortgage Trust

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.