First Trust Advisors LP lowered its holdings in shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) by 25.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,046 shares of the real estate investment trust’s stock after selling 67,235 shares during the period. First Trust Advisors LP owned approximately 0.18% of Blackstone Mortgage Trust worth $6,212,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BXMT. Blackstone Group L.P. increased its position in shares of Blackstone Mortgage Trust by 14.4% during the 3rd quarter. Blackstone Group L.P. now owns 5,263,579 shares of the real estate investment trust’s stock valued at $163,276,000 after purchasing an additional 663,846 shares during the period. KAMES CAPITAL plc acquired a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $6,193,000. Price Capital Management Inc. acquired a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $3,415,000. Atlantic Trust Group LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at $2,076,000. Finally, Dean Investment Associates LLC increased its position in shares of Blackstone Mortgage Trust by 36.2% during the 4th quarter. Dean Investment Associates LLC now owns 226,464 shares of the real estate investment trust’s stock valued at $7,288,000 after purchasing an additional 60,219 shares during the period. 61.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) traded up $0.08 during midday trading on Wednesday, hitting $32.00. The company had a trading volume of 757,484 shares, compared to its average volume of 909,594. The firm has a market cap of $3,470.00, a PE ratio of 14.10, a price-to-earnings-growth ratio of 2.66 and a beta of 0.57. Blackstone Mortgage Trust Inc has a twelve month low of $29.51 and a twelve month high of $33.08.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date is Wednesday, March 28th. Blackstone Mortgage Trust’s payout ratio is 109.25%.
BXMT has been the topic of several research analyst reports. B. Riley set a $33.00 price target on Blackstone Mortgage Trust and gave the company a “buy” rating in a research report on Thursday, February 15th. Zacks Investment Research upgraded Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Thursday, January 25th. Keefe, Bruyette & Woods cut Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. cut Blackstone Mortgage Trust from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 6th. Finally, Wells Fargo & Co initiated coverage on Blackstone Mortgage Trust in a research report on Wednesday, December 6th. They set an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Blackstone Mortgage Trust presently has a consensus rating of “Buy” and an average price target of $33.60.
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About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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