First Republic Investment Management Inc. Decreases Stock Holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)
First Republic Investment Management Inc. decreased its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) by 47.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 822,850 shares of the real estate investment trust’s stock after selling 750,022 shares during the period. First Republic Investment Management Inc. owned approximately 0.48% of Blackstone Mortgage Trust worth $17,420,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Blackstone Mortgage Trust by 4,842.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,598 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Blackstone Mortgage Trust in the third quarter worth about $43,000. Catalyst Capital Advisors LLC grew its holdings in shares of Blackstone Mortgage Trust by 19.4% in the fourth quarter. Catalyst Capital Advisors LLC now owns 3,200 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 520 shares during the last quarter. LSV Asset Management bought a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth about $148,000. Finally, Covestor Ltd grew its holdings in shares of Blackstone Mortgage Trust by 153.4% in the first quarter. Covestor Ltd now owns 4,981 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 3,015 shares during the last quarter. Institutional investors own 54.01% of the company’s stock.
Analyst Ratings Changes
BXMT has been the subject of a number of research reports. Citigroup lowered their price objective on shares of Blackstone Mortgage Trust from $24.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, April 6th. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone Mortgage Trust from $23.00 to $18.00 in a research note on Monday, April 24th. BTIG Research initiated coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, April 25th. They issued a “buy” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone Mortgage Trust from $25.00 to $18.00 and set a “market perform” rating for the company in a research note on Thursday, April 13th. Finally, StockNews.com assumed coverage on shares of Blackstone Mortgage Trust in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.80.
Insider Activity at Blackstone Mortgage Trust
In related news, CEO Katharine A. Keenan sold 4,549 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $18.36, for a total value of $83,519.64. Following the completion of the transaction, the chief executive officer now directly owns 159,428 shares of the company’s stock, valued at approximately $2,927,098.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone Mortgage Trust news, Director Michael B. Nash purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $18.86 per share, for a total transaction of $943,000.00. Following the acquisition, the director now owns 468,455 shares in the company, valued at $8,835,061.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 4,549 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $18.36, for a total transaction of $83,519.64. Following the completion of the transaction, the chief executive officer now owns 159,428 shares in the company, valued at approximately $2,927,098.08. The disclosure for this sale can be found here. In the last three months, insiders purchased 110,000 shares of company stock valued at $1,982,100 and sold 9,880 shares valued at $186,367. 1.06% of the stock is currently owned by insiders.
Blackstone Mortgage Trust Stock Down 1.2 %
Shares of Blackstone Mortgage Trust stock opened at $19.62 on Friday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 12.91 and a beta of 1.33. The company has a 50 day moving average price of $17.89 and a 200 day moving average price of $20.55. Blackstone Mortgage Trust, Inc. has a 52 week low of $16.60 and a 52 week high of $31.46.
Blackstone Mortgage Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 12.64%. The ex-dividend date was Thursday, March 30th. Blackstone Mortgage Trust’s payout ratio is currently 163.16%.
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, together with its subsidiaries, originates and acquires commercial mortgage loans and related investments. It operates as a real estate investment trust for federal income tax purposes.
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