Blackstone Mortgage Trust (NYSE:BXMT) President Fernando Austin Pena Sells 1,725 Shares of Stock

Key Points

• Blackstone Mortgage Trust President Fernando Austin Pena sold 1,725 shares for approximately $20,096 at $11.65 per share, reducing his holdings by 2.4%. The sale was conducted under a Rule 10b5-1 plan to cover tax obligations from vested equity awards.
• BXMT shares traded near $11.30, close to their 12-month low of $11.11, after the company reported quarterly earnings of $0.31 per share—below the $0.41 analyst consensus.
• The company declared a quarterly dividend of $0.47 per share, equal to a $1.88 annualized payout and a 16.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $19.20.

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) President Fernando Pena sold 1,725 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $11.65, for a total value of $20,096.25. Following the completion of the sale, the president owned 70,047 shares of the company's stock, valued at approximately $816,047.55. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fernando Austin Pena also recently made the following trade(s):

• On Thursday, September 17th, Fernando Pena sold 1,127 shares of Blackstone Mortgage Trust stock. The stock was sold at an average price of $13.42, for a total value of $15,124.34.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock traded down $0.15 during mid-day trading on Thursday, reaching $11.30. 3,757,809 shares of the company were exchanged, compared to its average volume of 2,472,692. The firm has a market cap of $1.90 billion, a PE ratio of 125.56, a PEG ratio of 0.27 and a beta of 0.92. The company has a fifty day simple moving average of $13.94 and a 200-day simple moving average of $16.82. Blackstone Mortgage Trust, Inc. has a 12 month low of $11.11 and a 12 month high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10). Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. The company had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. Sell-side analysts anticipate that Blackstone Mortgage Trust, Inc. will post 0.9 earnings per share for the current year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.88 annualized dividend and a yield of 16.6%. Blackstone Mortgage Trust's dividend payout ratio is currently 2,088.89%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BXMT. Norges Bank acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at approximately $38,239,000. Bank of New York Mellon Corp acquired a new position in Blackstone Mortgage Trust during the 2nd quarter worth approximately $18,109,000. Independent Financial Group LLC acquired a new position in Blackstone Mortgage Trust during the 1st quarter worth approximately $4,845,000. Bank of America Corp DE lifted its stake in Blackstone Mortgage Trust by 21.9% in the 1st quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust's stock valued at $24,839,000 after purchasing an additional 233,357 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Blackstone Mortgage Trust by 758.3% in the 1st quarter. First Trust Advisors LP now owns 185,148 shares of the real estate investment trust's stock valued at $3,546,000 after purchasing an additional 163,577 shares during the last quarter. Institutional investors and hedge funds own 64.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BXMT shares. Citigroup reissued a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Tuesday, August 25th. Zacks Research lowered shares of Blackstone Mortgage Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Raymond James Financial cut shares of Blackstone Mortgage Trust from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $16.00 price objective (down from $20.00) on shares of Blackstone Mortgage Trust in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. cut their target price on Blackstone Mortgage Trust from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $19.20.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc NYSE: BXMT is a real estate finance company organized as a real estate investment trust. The company originates and holds senior loans secured by commercial properties, with a focus on institutional-quality assets and experienced real estate sponsors.

Its portfolio primarily consists of floating-rate mortgage loans used to finance acquisitions, refinancings, development and other capital needs for commercial real estate. The properties securing its loans may include office buildings, multifamily communities, hotels, industrial facilities, retail centers and other commercial assets.

Blackstone Mortgage Trust is externally managed by BXMT Advisors L.P., an affiliate of Blackstone.

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