Point72 Asset Management L.P. Buys New Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Point72 Asset Management L.P. acquired a new stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 279,249 shares of the real estate investment trust's stock, valued at approximately $4,862,000. Point72 Asset Management L.P. owned 0.16% of Blackstone Mortgage Trust as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Blackstone Mortgage Trust by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 18,398,374 shares of the real estate investment trust's stock valued at $320,316,000 after buying an additional 63,338 shares in the last quarter. Blackstone Inc. increased its holdings 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 valued at $149,752,000 after buying an additional 652,537 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings 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 valued at $49,315,000 after buying an additional 801,083 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Blackstone Mortgage Trust by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,534,980 shares of the real estate investment trust's stock valued at $44,134,000 after buying an additional 121,633 shares in the last quarter. Finally, Norges Bank purchased a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $35,662,000. Institutional investors and hedge funds own 64.15% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a report on Wednesday, April 16th. JMP Securities reissued a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. UBS Group reissued a "neutral" rating and set a $19.50 price objective (up from $19.00) on shares of Blackstone Mortgage Trust in a research note on Wednesday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set a "market perform" rating for the company in a research note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.50.

Insiders Place Their Bets

In other news, Director Henry N. Nassau bought 10,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $18.90 per share, with a total value of $189,000.00. Following the purchase, the director now owns 182,946 shares of the company's stock, valued at approximately $3,457,679.40. The trade was a 5.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Katharine A. Keenan sold 2,315 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 17th. The shares were sold at an average price of $20.70, for a total transaction of $47,920.50. Following the completion of the transaction, the chief executive officer now owns 246,172 shares in the company, valued at approximately $5,095,760.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,652 shares of company stock valued at $116,971. Company insiders own 1.02% of the company's stock.

Blackstone Mortgage Trust Stock Up 0.3%

Shares of BXMT traded up $0.05 during mid-day trading on Friday, reaching $18.73. 983,281 shares of the company's stock were exchanged, compared to its average volume of 1,706,253. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -16.01 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. The company has a 50-day simple moving average of $19.04 and a two-hundred day simple moving average of $18.94.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 10.04%. Blackstone Mortgage Trust's payout ratio is currently -408.70%.

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.