Shikiar Asset Management Inc. Buys 33,900 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Shikiar Asset Management Inc. increased its stake in Blackstone Mortgage Trust (BXMT) by 233.8%, owning a total of 48,400 shares after purchasing an additional 33,900 shares.
• Blackstone Mortgage Trust recently announced a quarterly dividend of $0.47 per share, representing an annualized dividend yield of 10.5%.
• A variety of institutional investors have significantly adjusted their stakes in BXMT, with 64.15% of the stock currently held by institutional investors and hedge funds.

Shikiar Asset Management Inc. grew its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 233.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 48,400 shares of the real estate investment trust's stock after buying an additional 33,900 shares during the period. Shikiar Asset Management Inc.'s holdings in Blackstone Mortgage Trust were worth $932,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Blackstone Mortgage Trust by 5,656.5% in the 1st quarter. GAMMA Investing LLC now owns 59,580 shares of the real estate investment trust's stock valued at $1,192,000 after acquiring an additional 58,545 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Blackstone Mortgage Trust in the first quarter valued at $260,000. Kennicott Capital Management LLC acquired a new position in shares of Blackstone Mortgage Trust in the first quarter valued at $485,000. Sound Income Strategies LLC lifted its position in Blackstone Mortgage Trust by 18,595.8% in the first quarter. Sound Income Strategies LLC now owns 4,487 shares of the real estate investment trust's stock worth $90,000 after purchasing an additional 4,463 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Blackstone Mortgage Trust by 45.2% during the first quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust's stock worth $422,000 after buying an additional 6,571 shares in the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on BXMT. Weiss Ratings reissued a "sell (d+)" rating on shares of Blackstone Mortgage Trust in a report on Wednesday. UBS Group raised their price target on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "market perform" rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Blackstone Mortgage Trust presently has an average rating of "Hold" and an average price target of $19.63.

Insider Activity

In related news, CEO Katharine A. Keenan sold 4,593 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total transaction of $89,517.57. Following the completion of the sale, the chief executive officer directly owned 230,006 shares of the company's stock, valued at $4,482,816.94. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 8,818 shares of company stock valued at $171,190. 1.02% of the stock is currently owned by company insiders.

Blackstone Mortgage Trust Price Performance

BXMT opened at $17.97 on Friday. The stock has a market capitalization of $3.08 billion, a P/E ratio of -256.70 and a beta of 1.15. The company's 50 day simple moving average is $19.08 and its 200-day simple moving average is $19.11. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 10.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Blackstone Mortgage Trust's 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.

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