Vanguard Group Inc. Has $361.06 Million Stake in Blackstone Mortgage Trust, Inc. $BXMT

Key Points

• Vanguard Group Inc. reduced its stake in Blackstone Mortgage Trust by 1.9%, owning approximately 10.52% of the company after selling 345,595 shares during the first quarter, valued at about $361 million.
• Several institutional investors have increased their holdings in Blackstone Mortgage Trust, with Balyasny Asset Management L.P. notably raising its position by 39.4% in the last quarter.
• The stock's current consensus rating is "Hold" with a target price around $20.00, although it opened at $18.84 and has experienced a recent decline of 1.1%.

Vanguard Group Inc. cut its position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,052,779 shares of the real estate investment trust's stock after selling 345,595 shares during the quarter. Vanguard Group Inc. owned about 10.52% of Blackstone Mortgage Trust worth $361,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BXMT. Rossby Financial LCC bought a new position in Blackstone Mortgage Trust during the first quarter worth $49,000. GAMMA Investing LLC boosted its position in Blackstone Mortgage Trust by 187.8% during the first quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 1,944 shares during the period. Wellington Shields & Co. LLC boosted its position in Blackstone Mortgage Trust by 39.8% during the first quarter. Wellington Shields & Co. LLC now owns 4,410 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 1,255 shares during the period. Sound Income Strategies LLC boosted its position in Blackstone Mortgage Trust by 18,595.8% during 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, Sterling Capital Management LLC boosted its position in Blackstone Mortgage Trust by 814.9% during the fourth quarter. Sterling Capital Management LLC now owns 5,471 shares of the real estate investment trust's stock worth $95,000 after purchasing an additional 4,873 shares during the period. 64.15% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the company's 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 completion of the sale, the chief financial officer owned 64,082 shares of the company's stock, valued at $1,230,374.40. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 6,931 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total transaction of $132,590.03. Following the sale, the chief executive officer directly owned 236,914 shares of the company's stock, valued at $4,532,164.82. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,248 shares of company stock valued at $177,028 in the last ninety days. 1.02% of the stock is currently owned by company insiders.

Blackstone Mortgage Trust Stock Down 1.2%

Shares of Blackstone Mortgage Trust stock traded down $0.2250 during trading on Thursday, reaching $18.7550. The company's stock had a trading volume of 548,428 shares, compared to its average volume of 1,096,802. Blackstone Mortgage Trust, Inc. has a 52 week low of $16.51 and a 52 week high of $21.24. The business's 50-day moving average price is $19.30 and its 200-day moving average price is $19.34. The firm has a market cap of $3.22 billion, a PE ratio of -267.93 and a beta of 1.12.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 annualized dividend and a yield of 10.0%. Blackstone Mortgage Trust's dividend payout ratio is currently -2,685.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. 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 report on Thursday, July 31st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of "Hold" and an average 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.