Shikiar Asset Management Inc. Purchases New Shares in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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. CIBC Asset Management Inc increased its position in shares of Blackstone Mortgage Trust by 4.9% in the fourth quarter. CIBC Asset Management Inc now owns 16,915 shares of the real estate investment trust's stock valued at $294,000 after acquiring an additional 785 shares during the last quarter. IFP Advisors Inc increased its position in shares of Blackstone Mortgage Trust by 9.1% in the fourth quarter. IFP Advisors Inc now owns 10,037 shares of the real estate investment trust's stock valued at $175,000 after acquiring an additional 841 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Blackstone Mortgage Trust by 5.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,165 shares of the real estate investment trust's stock valued at $316,000 after acquiring an additional 967 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of Blackstone Mortgage Trust by 7.6% in the fourth quarter. Principal Securities Inc. now owns 14,224 shares of the real estate investment trust's stock valued at $248,000 after acquiring an additional 1,007 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BXMT. JMP Securities reissued a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price objective on Blackstone Mortgage Trust from $20.50 to $20.00 and set a "market perform" rating for the company in a report on Monday, April 7th. Finally, UBS Group restated a "neutral" rating and set a $19.50 price objective (up previously from $19.00) on shares of Blackstone Mortgage Trust in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.50.

Blackstone Mortgage Trust Stock Down 1.9%

NYSE BXMT opened at $19.11 on Monday. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -16.33 and a beta of 1.11. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.51 and a twelve month high of $21.24. The stock has a fifty day simple moving average of $18.81 and a 200 day simple moving average of $18.97.

Blackstone Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.84%. Blackstone Mortgage Trust's dividend payout ratio (DPR) is currently -408.70%.

Insider Buying and Selling at Blackstone Mortgage Trust

In related news, Director Henry N. Nassau acquired 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $18.90 per share, with a total value of $189,000.00. Following the transaction, the director now directly owns 182,946 shares of the company's stock, valued at $3,457,679.40. This trade represents a 5.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company's stock.

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.

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