Cambridge Investment Research Advisors Inc. lowered its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,153 shares of the real estate investment trust's stock after selling 9,832 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Blackstone Mortgage Trust were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in BXMT. Koshinski Asset Management Inc. lifted its stake in Blackstone Mortgage Trust by 5.4% in the second quarter. Koshinski Asset Management Inc. now owns 7,745 shares of the real estate investment trust's stock valued at $214,000 after acquiring an additional 400 shares during the last quarter. Rothschild Investment Corp IL lifted its stake in Blackstone Mortgage Trust by 44.0% in the second quarter. Rothschild Investment Corp IL now owns 21,925 shares of the real estate investment trust's stock valued at $607,000 after acquiring an additional 6,700 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its stake in Blackstone Mortgage Trust by 9.1% in the second quarter. Neville Rodie & Shaw Inc. now owns 349,188 shares of the real estate investment trust's stock valued at $9,662,000 after acquiring an additional 28,980 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in Blackstone Mortgage Trust in the second quarter valued at $945,000. Finally, Adalta Capital Management LLC lifted its stake in Blackstone Mortgage Trust by 10.6% in the first quarter. Adalta Capital Management LLC now owns 116,350 shares of the real estate investment trust's stock valued at $3,752,000 after acquiring an additional 11,179 shares during the last quarter. Institutional investors own 55.28% of the company's stock.
Get Blackstone Mortgage Trust alerts:Insider Transactions at Blackstone Mortgage Trust
In related news, CEO Katharine A. Keenan sold 2,270 shares of the firm's stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $28.70, for a total transaction of $65,149.00. Following the transaction, the chief executive officer now directly owns 120,872 shares of the company's stock, valued at $3,469,026.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 4,148 shares of company stock worth $114,708. 1.06% of the stock is owned by insiders.
Analysts Set New Price Targets
Separately, Credit Suisse Group cut their price target on shares of Blackstone Mortgage Trust to $30.00 in a research note on Friday, July 22nd.Blackstone Mortgage Trust Stock Performance
NYSE BXMT opened at $23.34 on Friday. The firm has a 50-day moving average of $29.08 and a 200-day moving average of $29.79. The stock has a market cap of $3.97 billion, a PE ratio of 9.57 and a beta of 1.24. Blackstone Mortgage Trust, Inc. has a 52-week low of $23.33 and a 52-week high of $34.04.
Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) last posted its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. Blackstone Mortgage Trust had a net margin of 44.90% and a return on equity of 8.92%. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, analysts predict that Blackstone Mortgage Trust, Inc. will post 2.45 EPS for the current fiscal year.
Blackstone Mortgage Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 10.63%. The ex-dividend date of this dividend is Thursday, September 29th. Blackstone Mortgage Trust's dividend payout ratio is presently 101.64%.
About Blackstone Mortgage Trust
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Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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