Shikiar Asset Management Inc. Invests $290,000 in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Shikiar Asset Management Inc. acquired a new stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,500 shares of the real estate investment trust's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ellis Investment Partners LLC boosted its holdings in shares of Blackstone Mortgage Trust by 1.8% in the fourth quarter. Ellis Investment Partners LLC now owns 171,617 shares of the real estate investment trust's stock valued at $2,988,000 after buying an additional 3,096 shares during the period. Principal Securities Inc. increased its holdings in Blackstone Mortgage Trust by 7.6% during the 4th quarter. Principal Securities Inc. now owns 14,224 shares of the real estate investment trust's stock worth $248,000 after purchasing an additional 1,007 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Blackstone Mortgage Trust by 1.7% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 38,237 shares of the real estate investment trust's stock valued at $666,000 after purchasing an additional 624 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Blackstone Mortgage Trust by 3.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 112,556 shares of the real estate investment trust's stock valued at $1,960,000 after purchasing an additional 3,926 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Blackstone Mortgage Trust by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 838,973 shares of the real estate investment trust's stock worth $14,607,000 after buying an additional 20,487 shares during the period. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on BXMT. UBS Group restated a "neutral" rating and issued a $19.50 target price (up previously from $19.00) on shares of Blackstone Mortgage Trust in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set a "market perform" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced 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. Finally, JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.50.

Blackstone Mortgage Trust Stock Up 1.7%

Shares of NYSE BXMT traded up $0.31 during midday trading on Thursday, hitting $19.33. 1,964,516 shares of the company's stock were exchanged, compared to its average volume of 1,658,505. The firm has a market capitalization of $3.32 billion, a PE ratio of -42.03 and a beta of 1.11. Blackstone Mortgage Trust, Inc. has a 12 month low of $16.51 and a 12 month high of $21.24. The company's 50 day moving average price is $18.89 and its 200 day moving average price is $18.98.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 9.72%. Blackstone Mortgage Trust's dividend payout ratio is currently -408.70%.

Insider Activity

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $19.20, for a total value of $29,126.40. Following the completion of the sale, the chief financial officer now owns 64,082 shares of the company's stock, valued at $1,230,374.40. The trade was a 2.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $132,590.03. Following the transaction, the chief executive officer now directly owns 236,914 shares in the company, valued at $4,532,164.82. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,248 shares of company stock valued at $177,028 over the last ninety days. 1.02% of the stock is currently owned by company insiders.

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.