Insider Selling: Blackstone Mortgage Trust (NYSE:BXMT) President Sells $15,124.34 in Stock

Key Points

• Blackstone Mortgage Trust President Fernando Pena sold 1,127 shares for approximately $15,124 at an average price of $13.42. The Rule 10b5-1 transaction was intended to cover tax withholding on vested equity awards, leaving him with 71,772 shares.
• BXMT shares fell to $13.30, near their 12-month low of $13.10, after the company reported quarterly EPS of $0.31, missing estimates of $0.41. Analysts’ consensus rating is “Hold,” with an average price target of $19.20.
• The company declared a quarterly dividend of $0.47 per share, equivalent to an annualized $1.88 and a reported 14.1% yield; shares must be held by September 30 to receive the October 15 payment.

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) President Fernando Pena sold 1,127 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $13.42, for a total transaction of $15,124.34. Following the completion of the sale, the president owned 71,772 shares in the company, valued at $963,180.24. This represents a 1.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Tuesday, June 30th, Fernando Pena sold 1,670 shares of Blackstone Mortgage Trust stock. The stock was sold at an average price of $17.07, for a total transaction of $28,506.90.
• On Thursday, June 25th, Fernando Pena sold 2,398 shares of Blackstone Mortgage Trust stock. The shares were sold at an average price of $17.48, for a total value of $41,917.04.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT traded down $0.20 during trading hours on Friday, reaching $13.30. The stock had a trading volume of 7,971,792 shares, compared to its average volume of 1,719,580. Blackstone Mortgage Trust, Inc. has a 12 month low of $13.10 and a 12 month high of $20.67. The stock has a market capitalization of $2.24 billion, a PE ratio of 147.83, a PEG ratio of 0.31 and a beta of 0.90. The company's 50-day moving average is $14.83 and its two-hundred day moving average is $17.29.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $158.06 million for the quarter, compared to the consensus estimate of $157.32 million. Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%. Equities analysts anticipate that Blackstone Mortgage Trust, Inc. will post 0.9 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Wednesday, September 30th. Blackstone Mortgage Trust's payout ratio is 2,088.89%.

Institutional Trading of Blackstone Mortgage Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Blackstone Mortgage Trust during the 4th quarter worth approximately $38,239,000. Bank of America Corp DE boosted its stake in shares of 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. Bank of New York Mellon Corp acquired a new stake in shares of Blackstone Mortgage Trust during the second quarter worth $18,109,000. Principal Financial Group Inc. increased its position in shares of Blackstone Mortgage Trust by 2.6% during the first quarter. Principal Financial Group Inc. now owns 770,901 shares of the real estate investment trust's stock worth $14,763,000 after buying an additional 19,423 shares during the period. Finally, Punch & Associates Investment Management Inc. raised its stake in Blackstone Mortgage Trust by 0.6% during the first quarter. Punch & Associates Investment Management Inc. now owns 483,624 shares of the real estate investment trust's stock worth $9,261,000 after buying an additional 2,971 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BXMT shares. Wells Fargo & Company dropped their price objective on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. UBS Group began coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They set a "buy" rating and a $21.00 price target for the company. Wall Street Zen cut shares of Blackstone Mortgage Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Raymond James Financial downgraded Blackstone Mortgage Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $16.00 target price (down from $20.00) on shares of Blackstone Mortgage Trust in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.20.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a real estate investment trust (REIT) that originates and holds senior mortgage loans secured by commercial real estate. Its lending activities primarily focus on transitional and institutional-quality properties, including office, multifamily, hotel, industrial, retail and other commercial assets.

The company's portfolio is concentrated in major real estate markets in the United States, Europe and Australia. Its loans are generally floating-rate and are designed to provide financing for acquisitions, refinancings, renovations, development and other commercial real estate activities.

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

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