Key Points
- Blackstone Mortgage Trust President Fernando Austin Pena sold 2,398 shares on June 25 at an average price of $17.48, worth about $41,917. The sale reduced his direct holdings by 3.12%, and it was made under a pre-arranged Rule 10b5-1 trading plan to cover tax withholding from vesting equity awards.
- The company also announced a quarterly dividend of $0.47 per share, payable July 15 to shareholders of record on June 30. That works out to an annualized dividend of $1.88 per share and a high yield of 10.8%.
- Analyst sentiment on BXMT remains mixed but generally positive, with an average “Moderate Buy” rating and a $21.00 consensus price target. The stock was up 0.1% and recently traded near $17.45, close to its 12-month low of $17.09.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) President Fernando Austin Pena sold 2,398 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $17.48, for a total transaction of $41,917.04. Following the completion of the sale, the president directly owned 74,569 shares in the company, valued at approximately $1,303,466.12. The trade was a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.
Fernando Austin Pena also recently made the following trade(s):
- On Tuesday, March 31st, Fernando Austin Pena sold 1,666 shares of Blackstone Mortgage Trust stock. The stock was sold at an average price of $18.88, for a total transaction of $31,454.08.
Blackstone Mortgage Trust Stock Up 0.1%
Shares of BXMT opened at $17.45 on Tuesday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 28.61 and a beta of 0.89. Blackstone Mortgage Trust, Inc. has a 12 month low of $17.09 and a 12 month high of $20.67. The company has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $19.10.
Blackstone Mortgage Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Tuesday, June 30th. Blackstone Mortgage Trust's dividend payout ratio (DPR) is 308.20%.
Wall Street Analyst Weigh In
BXMT has been the subject of several recent analyst reports. Zacks Research lowered Blackstone Mortgage Trust from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 22nd. UBS Group assumed coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 2nd. They issued a "buy" rating and a $21.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set an "outperform" rating for the company in a research report on Friday. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Blackstone Mortgage Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Blackstone Mortgage Trust currently has an average rating of "Moderate Buy" and an average price target of $21.00.
View Our Latest Research Report on BXMT
Institutional Investors Weigh In On Blackstone Mortgage Trust
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new position in Blackstone Mortgage Trust in the first quarter valued at about $286,000. Bank of America Corp DE raised its holdings in Blackstone Mortgage Trust by 21.9% during the 1st quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust's stock worth $24,839,000 after purchasing an additional 233,357 shares during the last quarter. Edgestream Partners L.P. raised its holdings in Blackstone Mortgage Trust by 75.7% during the 1st quarter. Edgestream Partners L.P. now owns 238,916 shares of the real estate investment trust's stock worth $4,575,000 after purchasing an additional 102,904 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Blackstone Mortgage Trust by 14.1% during the 1st quarter. Arkadios Wealth Advisors now owns 14,874 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 1,833 shares during the period. Finally, Amundi lifted its position in Blackstone Mortgage Trust by 30.1% during the 1st quarter. Amundi now owns 33,705 shares of the real estate investment trust's stock valued at $645,000 after purchasing an additional 7,804 shares during the period. Institutional investors own 64.15% of the company's stock.
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.
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