Rhumbline Advisers Has $10.27 Million Stock Holdings in 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 lowered its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 513,637 shares of the real estate investment trust's stock after selling 23,459 shares during the period. Rhumbline Advisers owned about 0.30% of Blackstone Mortgage Trust worth $10,273,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. MetLife Investment Management LLC grew its stake in shares of Blackstone Mortgage Trust by 696.6% in the 1st quarter. MetLife Investment Management LLC now owns 843,692 shares of the real estate investment trust's stock valued at $16,874,000 after buying an additional 737,778 shares in the last quarter. Millennium Management LLC lifted its stake in Blackstone Mortgage Trust by 473.3% in the fourth quarter. Millennium Management LLC now owns 625,060 shares of the real estate investment trust's stock valued at $10,882,000 after acquiring an additional 516,023 shares during the last quarter. Dark Forest Capital Management LP grew its position in Blackstone Mortgage Trust by 1,253.5% in the first quarter. Dark Forest Capital Management LP now owns 330,257 shares of the real estate investment trust's stock worth $6,605,000 after acquiring an additional 305,857 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Blackstone Mortgage Trust in the fourth quarter worth approximately $4,862,000. Finally, Pacific Capital Partners Ltd acquired a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth $4,000,000. 64.15% of the stock is owned by institutional investors and hedge funds.

Blackstone Mortgage Trust Stock Up 0.2%

Shares of NYSE:BXMT opened at $19.91 on Thursday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -284.36 and a beta of 1.16. The business has a 50 day moving average price of $19.34 and a 200 day moving average price of $19.34. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.51 and a twelve month high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 9.4%. The ex-dividend date was Monday, June 30th. Blackstone Mortgage Trust's payout ratio is currently -2,685.71%.

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 Blackstone Mortgage Trust stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $19.20, for a total transaction of $29,126.40. Following the sale, the chief financial officer owned 64,082 shares in the company, valued at approximately $1,230,374.40. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,069 shares of company stock worth $231,343 over the last 90 days. Corporate insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

BXMT has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of 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 target on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.