Shikiar Asset Management Inc. Sells 123,390 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Shikiar Asset Management Inc. trimmed its position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 88.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,300 shares of the real estate investment trust's stock after selling 123,390 shares during the quarter. Shikiar Asset Management Inc.'s holdings in Blackstone Mortgage Trust were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BXMT. Raymond James Financial Services Advisors Inc. grew its holdings in Blackstone Mortgage Trust by 14.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 60,571 shares of the real estate investment trust's stock valued at $1,926,000 after buying an additional 7,506 shares in the last quarter. US Bancorp DE grew its holdings in shares of Blackstone Mortgage Trust by 11.8% during the 1st quarter. US Bancorp DE now owns 18,508 shares of the real estate investment trust's stock worth $588,000 after purchasing an additional 1,957 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Blackstone Mortgage Trust by 43.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 12,607 shares of the real estate investment trust's stock worth $401,000 after purchasing an additional 3,802 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Blackstone Mortgage Trust by 50.6% during the 1st quarter. MetLife Investment Management LLC now owns 82,945 shares of the real estate investment trust's stock worth $2,637,000 after purchasing an additional 27,873 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Blackstone Mortgage Trust during the 1st quarter worth $200,000. 64.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the transaction, the chief executive officer now directly owns 194,298 shares in the company, valued at $3,967,565.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the transaction, the chief executive officer now owns 194,298 shares of the company's stock, valued at $3,967,565.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,540 shares of company stock worth $112,642. 1.02% of the stock is currently owned by insiders.

Blackstone Mortgage Trust Price Performance

NYSE:BXMT traded up $0.21 during trading hours on Friday, hitting $18.54. The company's stock had a trading volume of 1,517,558 shares, compared to its average volume of 1,749,954. The stock has a fifty day simple moving average of $19.57 and a 200-day simple moving average of $20.66. The company has a market capitalization of $3.22 billion, a P/E ratio of 13.15 and a beta of 1.42. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.83 and a twelve month high of $23.82.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.48 annualized dividend and a yield of 13.38%. Blackstone Mortgage Trust's dividend payout ratio is presently 175.89%.

Analysts Set New Price Targets

BXMT has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a "market perform" rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their target price on Blackstone Mortgage Trust from $19.00 to $18.50 and set a "neutral" rating on the stock in a report on Wednesday, April 10th. BTIG Research reduced their target price on Blackstone Mortgage Trust from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group reduced their target price on Blackstone Mortgage Trust from $21.50 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, March 20th. Finally, Bank of America lowered Blackstone Mortgage Trust from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.83.

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.