Insider Selling: Blackstone Mortgage Trust (NYSE:BXMT) President Sells $31,454.08 in Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) President Fernando Austin Pena sold 1,666 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total value of $31,454.08. Following the completion of the transaction, the president directly owned 76,967 shares of the company’s stock, valued at approximately $1,453,136.96. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Blackstone Mortgage Trust Stock Down 0.0%

Shares of Blackstone Mortgage Trust stock opened at $18.67 on Friday. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 28.73 and a beta of 1.00. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.51 and a 12-month high of $20.67. The firm’s 50-day moving average price is $19.24 and its two-hundred day moving average price is $19.11.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 10.1%. The ex-dividend date is Tuesday, March 31st. Blackstone Mortgage Trust’s payout ratio is currently 289.23%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BXMT. Salomon & Ludwin LLC purchased a new position in Blackstone Mortgage Trust during the 3rd quarter valued at about $25,000. Jones Financial Companies Lllp grew its stake in Blackstone Mortgage Trust by 45.5% during the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 536 shares in the last quarter. North Capital Inc. bought a new stake in Blackstone Mortgage Trust during the 3rd quarter worth approximately $37,000. ORG Partners LLC purchased a new stake in Blackstone Mortgage Trust in the 4th quarter worth approximately $41,000. Finally, UMB Bank n.a. lifted its stake in Blackstone Mortgage Trust by 151.1% in the 4th quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,307 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.

Wall Street Analyst Weigh In

BXMT has been the topic of a number of research analyst reports. Zacks Research raised Blackstone Mortgage Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. BTIG Research reissued a “buy” rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.13.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.