Insider Selling: Blackstone Mortgage Trust (NYSE:BXMT) CEO Sells 2,315 Shares of Stock

Key Points

• Katharine Keenan, CEO of Blackstone Mortgage Trust, sold 2,315 shares at an average price of $19.25, totaling approximately $44,563.75, resulting in a 0.98% decrease in her position.
• Following the sale, Keenan retains 234,599 shares valued at about $4.5 million and Blackstone Mortgage Trust shares are currently trading at around $19.43.
• The firm announced a quarterly dividend of $0.47, reflecting a 9.7% yield, amidst a payout ratio of -2,685.71%.

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) CEO Katharine Keenan sold 2,315 shares of Blackstone Mortgage Trust stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $44,563.75. Following the sale, the chief executive officer directly owned 234,599 shares of the company's stock, valued at $4,516,030.75. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Blackstone Mortgage Trust Stock Up 0.4%

Shares of NYSE:BXMT traded up $0.08 during trading on Wednesday, reaching $19.43. 741,570 shares of the company traded hands, compared to its average volume of 1,427,123. The firm has a fifty day simple moving average of $19.32 and a 200 day simple moving average of $19.36. The firm has a market cap of $3.33 billion, a P/E ratio of -277.50 and a beta of 1.16. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24.

Blackstone Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 9.7%. The ex-dividend date of this dividend was Monday, June 30th. Blackstone Mortgage Trust's payout ratio is presently -2,685.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods cut their target price 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. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.00.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXMT. Kingstone Capital Partners Texas LLC acquired a new position in Blackstone Mortgage Trust in the second quarter valued at about $35,101,000. Norges Bank acquired a new position in Blackstone Mortgage Trust in the second quarter valued at about $34,608,000. Bamco Inc. NY boosted its position in Blackstone Mortgage Trust by 1,498.1% in the second quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust's stock valued at $30,696,000 after buying an additional 1,494,830 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Blackstone Mortgage Trust by 39.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust's stock valued at $49,315,000 after buying an additional 801,083 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Blackstone Mortgage Trust by 696.6% in the first quarter. MetLife Investment Management LLC now owns 843,692 shares of the real estate investment trust's stock valued at $16,874,000 after buying an additional 737,778 shares in the last quarter. Institutional investors own 64.15% 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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