Key Points
- Blackstone Mortgage Trust President Fernando Austin Pena sold 1,670 shares on June 30 at an average price of $17.07, for proceeds of about $28,506.90. The sale reduced his holdings by 2.24% and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity vesting.
- Pena also sold 2,398 shares in a separate transaction on June 25 at an average price of $17.48, totaling about $41,917.04.
- The stock recently traded near $16.98 and pays a quarterly dividend of $0.47, implying an annualized yield of about 11.1%. Analyst sentiment is mixed but leans positive, with an average Moderate Buy rating and a $21.00 price target.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) President Fernando Austin Pena sold 1,670 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $17.07, for a total value of $28,506.90. Following the sale, the president owned 72,899 shares of the company's stock, valued at approximately $1,244,385.93. The trade was a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Thursday, June 25th, Fernando Austin Pena sold 2,398 shares of Blackstone Mortgage Trust stock. The stock was sold at an average price of $17.48, for a total transaction of $41,917.04.
Blackstone Mortgage Trust Trading Up 0.1%
Shares of Blackstone Mortgage Trust stock opened at $16.98 on Thursday. The company has a fifty day simple moving average of $18.41 and a 200-day simple moving average of $19.05. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.88 and a 12-month high of $20.67. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 27.83 and a beta of 0.90.
Blackstone Mortgage Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 11.1%. Blackstone Mortgage Trust's payout ratio is 308.20%.
Analyst Ratings Changes
A number of analysts have recently commented on BXMT shares. Weiss Ratings cut Blackstone Mortgage Trust from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. JPMorgan Chase & Co. reduced 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 research report on Thursday, April 30th. Zacks Research downgraded shares of Blackstone Mortgage Trust from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. UBS Group initiated coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 2nd. They set a "buy" rating and a $21.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reduced 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 report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.
View Our Latest Analysis on BXMT
Institutional Investors Weigh In On Blackstone Mortgage Trust
Several hedge funds have recently modified their holdings of BXMT. Jones Financial Companies Lllp grew its position in Blackstone Mortgage Trust by 45.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 536 shares during the last quarter. ORG Partners LLC acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at $41,000. Ascentis Independent Advisors purchased a new position in Blackstone Mortgage Trust during the 1st quarter worth $41,000. UMB Bank n.a. raised its position in Blackstone Mortgage Trust by 151.1% during the 4th quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust's stock worth $42,000 after buying an additional 1,307 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth $46,000. 64.15% of the stock is owned by institutional investors and hedge funds.
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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