Rhumbline Advisers Sells 23,459 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Rhumbline Advisers reduced its stake in Blackstone Mortgage Trust by 4.4%, owning approximately 0.30% of the company's shares, valued at $10.27 million as of the latest SEC filing.
• Several hedge funds increased their positions in Blackstone Mortgage Trust significantly, with MetLife Investment Management raising its stake by 696.6% to own 843,692 shares worth about $16.87 million.
• The company declared a quarterly dividend of $0.47 per share, representing an annual yield of 9.4%, despite having a payout ratio of -2,685.71%.

Rhumbline Advisers decreased its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 513,637 shares of the real estate investment trust's stock after selling 23,459 shares during the quarter. Rhumbline Advisers owned 0.30% of Blackstone Mortgage Trust worth $10,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Blackstone Mortgage Trust during the first quarter valued at approximately $650,000. Advisors Capital Management LLC boosted its holdings in Blackstone Mortgage Trust by 5.8% in the first quarter. Advisors Capital Management LLC now owns 1,033,015 shares of the real estate investment trust's stock worth $20,660,000 after purchasing an additional 56,526 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Blackstone Mortgage Trust by 5.0% in the first quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust's stock worth $1,474,000 after purchasing an additional 3,478 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in Blackstone Mortgage Trust by 185.7% in the first quarter. Bayforest Capital Ltd now owns 30,719 shares of the real estate investment trust's stock worth $614,000 after purchasing an additional 19,965 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Blackstone Mortgage Trust by 7.1% in the first 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 worth $11,405,000 after purchasing an additional 37,838 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating on the stock in a report on Thursday, July 31st. UBS Group raised their target price on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Blackstone Mortgage Trust presently has an average rating of "Hold" and a consensus target price of $20.00.

Insider Activity at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,315 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $44,563.75. Following the sale, the chief executive officer directly owned 234,599 shares in the company, valued at $4,516,030.75. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by insiders.

Blackstone Mortgage Trust Stock Down 0.5%

BXMT traded down $0.10 during trading on Tuesday, hitting $19.42. The company's stock had a trading volume of 285,908 shares, compared to its average volume of 1,395,625. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24. The firm has a market cap of $3.33 billion, a PE ratio of -277.43 and a beta of 1.16. The business's 50 day simple moving average is $19.34 and its 200-day simple moving average is $19.31.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Tuesday, September 30th. Blackstone Mortgage Trust's dividend payout ratio (DPR) is presently -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.