Mirae Asset Global Investments Co. Ltd. announced in its latest filing with the SEC that it reduced its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – free report) by 19.1% during the first quarter. The fund sold 209,730 shares during the quarter to hold 886,468 shares of the real estate investment trust. Mirae Asset Global Investments Co. Ltd. held 0.51% of Blackstone Mortgage Trust's stock, valued at $17,650,000, as of the end of the latest reporting period.
Several other large investors also recently modified their holdings in BXMT. The Vanguard Group increased its holding in Blackstone Mortgage Trust by 15.3% in the third quarter. The Vanguard Group now owns 18,643,329 shares of the real estate investment trust valued at $405,492,000 after acquiring an additional 2,470,412 shares in the last quarter. Norges Bank acquired a new stake in Blackstone Mortgage Trust in the fourth quarter valued at approximately $38,747,000. Blackstone increased its holding in Blackstone Mortgage Trust by 9.5% in the fourth quarter. Blackstone now owns 7,948,955 shares of the real estate investment trust valued at $169,074,000. It now owns 686,881 shares of the real estate investment trust worth $169,074,000 after acquiring an additional 686,881 shares in the last quarter. Ameriprise Financial increased its holding in Blackstone Mortgage Trust by 45.5% in the third quarter. Ameriprise Financial now owns 2,141,173 shares of the real estate investment trust worth $46,578,000 after acquiring an additional 669,172 shares in the last quarter. Finally, The Goldman Sachs Group increased its holding in Blackstone Mortgage Trust by 82.6% in the fourth quarter. The Goldman Sachs Group now owns 1,169,503 shares of the real estate investment trust worth $24,875,000 after acquiring an additional 528,950 shares in the last quarter. Currently, 64.15% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Blackstone Mortgage Trust
In related news, CEO Katherine A. Keenan sold 4,508 shares of the company's stock in a transaction on Monday, June 17th. The shares were sold at an average price of $17.53, for a total value of $79,025.24. With this transaction, the CEO now directly owns 182,960 shares of the company's stock, valued at approximately $3,207,288.80. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link . In other Blackstone Mortgage Trust news, CEO Katherine A. Keenan sold 2,296 shares of the company's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following this transaction, the CEO now directly owns 187,468 shares of the company's stock, valued at approximately $3,194,454.72. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be viewed on the SEC's website. Additionally, CEO Katherine A. Keenan sold 4,508 shares of the company's stock in a transaction on Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction value of $79,025.24. Following this transaction, the CEO now directly owns 182,960 shares of the company's stock, valued at $3,207,288.80. The disclosure for this sale can be viewed here. In the last 90 days, insiders have sold 11,057 shares of the company's stock, valued at $191,141. Insiders now own 0.93% of the company's stock.
Blackstone Mortgage Trust Price Trend
BXMT shares traded up $0.01 to $17.29 in midday trading on Friday. The stock traded 1,440,894 shares, compared to its average trading volume of 1,816,901 shares. Blackstone Mortgage Trust, Inc.'s one-year low is $16.70 and its one-year high is $23.82. The company's 50-day simple moving average is $17.67 and its 200-day simple moving average is $19.22. The company has a market capitalization of $3 billion, a price-to-earnings ratio of 576.33 and a beta of 1.49.
Blackstone Mortgage Trust Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.62. This works out to an annualized dividend of $2.48, for a dividend yield of 14.34%. The ex-dividend date is Friday, June 28th. Blackstone Mortgage Trust has a dividend payout ratio (DPR) of 8,266.67%.
Analyst upgrades and downgrades
A number of equities research analysts have issued reports on the stock. JPMorgan Chase lowered their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Wolf Research covered shares of Blackstone Mortgage Trust and set a “peer-match” rating on the stock in a report on Tuesday, June 25th. Keefe, Bruett & Woods reaffirmed their “market-match” rating and set a $18.00 price target on Blackstone Mortgage Trust in a report on Tuesday, June 18th. UBS Group lowered their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, BTIG Research cut their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat data, the company has an average rating of a “hold” and an average target price of $19.93.
Read the latest research report on BXMT
Blackstone Mortgage Trust Profile
(Free report)
Blackstone Mortgage Trust, Inc., a real estate finance company, originates senior loans secured by commercial real estate in North America, Europe and Australia. The company originates and acquires senior adjustable rate mortgage loans secured by first lien mortgages on commercial real estate assets.
Feature Articles
Want to see what other hedge funds are holding BXMT? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Blackstone Mortgage Trust, Inc. (NYSE:BXMT – FREE Report).
Get Blackstone Mortgage Trust News and Ratings Daily – Enter your email address below to receive a concise summary of the latest news and analyst ratings for Blackstone Mortgage Trust and its affiliates every day with MarketBeat.com's free email newsletter.