Blackstone Mortgage Trust (NYSE:BXMT) President Sells 1,127 Shares of Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) President Fernando Pena sold 1,127 shares of Blackstone Mortgage Trust stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $13.42, for a total value of $15,124.34. Following the completion of the transaction, the president directly owned 71,772 shares of the company’s stock, valued at approximately $963,180.24. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fernando Austin Pena also recently made the following trade(s):

• On Tuesday, June 30th, Fernando Pena sold 1,670 shares of Blackstone Mortgage Trust stock. The shares were sold at an average price of $17.07, for a total value of $28,506.90.
• On Thursday, June 25th, Fernando Pena sold 2,398 shares of Blackstone Mortgage Trust stock. The shares were sold at an average price of $17.48, for a total value of $41,917.04.

Blackstone Mortgage Trust Trading Down 1.4%

NYSE BXMT traded down $0.20 during trading hours on Friday, hitting $13.30. 7,971,792 shares of the company’s stock were exchanged, compared to its average volume of 1,719,580. The stock has a 50-day simple moving average of $14.83 and a 200 day simple moving average of $17.29. Blackstone Mortgage Trust, Inc. has a 1-year low of $13.10 and a 1-year high of $20.67. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 147.83, a PEG ratio of 0.31 and a beta of 0.90.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10). The business had revenue of $158.06 million during the quarter, compared to analyst estimates of $157.32 million. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. On average, sell-side analysts anticipate that Blackstone Mortgage Trust, Inc. will post 0.9 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.88 annualized dividend and a dividend yield of 14.1%. Blackstone Mortgage Trust’s payout ratio is currently 2,088.89%.

Institutional Trading of Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of the business. Ascentis Independent Advisors bought a new stake in Blackstone Mortgage Trust during the 1st quarter valued at $41,000. Integrated Wealth Concepts LLC acquired a new position in shares of Blackstone Mortgage Trust during the second quarter valued at about $39,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Blackstone Mortgage Trust during the fourth quarter valued at about $82,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Blackstone Mortgage Trust by 67.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 4,331 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Blackstone Mortgage Trust during the second quarter worth about $84,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Analyst Ratings Changes

BXMT has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Zacks Research lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Wells Fargo & Company cut their price objective on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen downgraded Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Blackstone Mortgage Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.20.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a real estate investment trust (REIT) that originates and holds senior mortgage loans secured by commercial real estate. Its lending activities primarily focus on transitional and institutional-quality properties, including office, multifamily, hotel, industrial, retail and other commercial assets.

The company’s portfolio is concentrated in major real estate markets in the United States, Europe and Australia. Its loans are generally floating-rate and are designed to provide financing for acquisitions, refinancings, renovations, development and other commercial real estate activities.

Blackstone Mortgage Trust is externally managed by BXMT Advisors LLC, an affiliate of Blackstone.