Principal Financial Group Inc. Buys 15,644 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Principal Financial Group Inc. grew its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 854,617 shares of the real estate investment trust's stock after buying an additional 15,644 shares during the period. Principal Financial Group Inc. owned 0.50% of Blackstone Mortgage Trust worth $17,092,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. MBM Wealth Consultants LLC boosted its stake in Blackstone Mortgage Trust by 23.3% during the 1st quarter. MBM Wealth Consultants LLC now owns 16,939 shares of the real estate investment trust's stock worth $347,000 after purchasing an additional 3,202 shares during the period. Teacher Retirement System of Texas acquired a new stake in Blackstone Mortgage Trust during the 1st quarter worth $481,000. Glassy Mountain Advisors Inc. boosted its stake in Blackstone Mortgage Trust by 1.8% during the 1st quarter. Glassy Mountain Advisors Inc. now owns 57,149 shares of the real estate investment trust's stock worth $1,143,000 after purchasing an additional 998 shares during the period. Rossby Financial LCC acquired a new stake in Blackstone Mortgage Trust during the 1st quarter worth $49,000. Finally, Essex Financial Services Inc. acquired a new stake in Blackstone Mortgage Trust during the 1st quarter worth $212,000. Institutional investors and hedge funds own 64.15% of the company's stock.

Blackstone Mortgage Trust Price Performance

BXMT traded down $0.24 during trading on Tuesday, hitting $19.69. The company had a trading volume of 1,054,278 shares, compared to its average volume of 1,599,651. The company has a market cap of $3.38 billion, a PE ratio of -42.79 and a beta of 1.10. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24. The business has a 50-day moving average of $19.31 and a 200-day moving average of $19.12.

Blackstone Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 9.55%. The ex-dividend date of this dividend is Monday, June 30th. Blackstone Mortgage Trust's dividend payout ratio is -408.70%.

Insider Activity

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 236,914 shares in the company, valued at approximately $4,532,164.82. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total value of $29,126.40. Following the transaction, the chief financial officer owned 64,082 shares of the company's stock, 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 over the last three months. Insiders own 1.02% of the company's stock.

Wall Street Analysts Forecast Growth

BXMT has been the subject of several recent analyst reports. JMP Securities reiterated a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "market perform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. lowered their price target 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. Finally, UBS Group boosted their target price on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Blackstone Mortgage Trust has an average rating of "Hold" and an average price target of $20.58.

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.