Key Points
- Blackstone Mortgage Trust CFO Marcin Urbaszek sold 1,352 shares on June 17 at an average price of $18.35, totaling about $24,809. The sale reduced his direct holdings by 5.17% and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
- The company recently declared a quarterly dividend of $0.47 per share, payable on July 15 to shareholders of record on June 30. That works out to an annualized dividend of $1.88 and a stated yield of 10.4%.
- Wall Street sentiment remains moderately positive, with four Buy ratings and two Hold ratings, plus a consensus price target of $21.38. The stock was last reported trading near $18.07, below that consensus target.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) CFO Marcin Urbaszek sold 1,352 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $18.35, for a total value of $24,809.20. Following the sale, the chief financial officer directly owned 24,824 shares in the company, valued at approximately $455,520.40. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.
Blackstone Mortgage Trust Price Performance
BXMT opened at $18.07 on Friday. The stock's 50 day moving average price is $18.82 and its 200 day moving average price is $19.20. The stock has a market cap of $3.05 billion, a P/E ratio of 29.63 and a beta of 0.89. Blackstone Mortgage Trust, Inc. has a 12 month low of $17.67 and a 12 month high of $20.67.
Blackstone Mortgage Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 10.4%. Blackstone Mortgage Trust's dividend payout ratio is presently 308.20%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its position in Blackstone Mortgage Trust by 45.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 536 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Blackstone Mortgage Trust by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 570,233 shares of the real estate investment trust's stock worth $11,405,000 after purchasing an additional 37,838 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Blackstone Mortgage Trust by 5.0% during the first quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust's stock worth $1,474,000 after purchasing an additional 3,478 shares during the period. Invesco Ltd. boosted its holdings in shares of Blackstone Mortgage Trust by 28.1% during the second quarter. Invesco Ltd. now owns 630,752 shares of the real estate investment trust's stock worth $12,142,000 after purchasing an additional 138,469 shares during the period. Finally, Jump Financial LLC purchased a new position in Blackstone Mortgage Trust during the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 64.15% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on BXMT. Weiss Ratings downgraded shares of Blackstone Mortgage Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. dropped their target price on Blackstone Mortgage Trust from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Zacks Research downgraded Blackstone Mortgage Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Finally, UBS Group started coverage on Blackstone Mortgage Trust in a research report on Tuesday, June 2nd. They set a "buy" rating and a $21.00 price target on the stock. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.38.
Read Our Latest Research Report on BXMT
About Blackstone Mortgage Trust
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
