Texas Permanent School Fund Inc. increased its holdings in Blackstone Mortgage Trust Co. (NYSE:BXMT – free report ) by 1.3% during the first quarter, according to the fund's latest 13F filing with the Securities and Exchange Commission. The fund bought an additional 1,929 shares during the period, giving it a total holding of 150,574 shares of the real estate investment trust. Texas Permanent School Fund Inc. held approximately 0.09% of Blackstone Mortgage Trust Co., valued at $2,998,000 as of the end of the most recent reporting period.
Other hedge funds and institutional investors also recently modified their holdings in the company. Vanguard Group increased its holdings in Blackstone Mortgage Trust by 15.3% in the third quarter. Vanguard Group now owns 18,643,329 shares of the real estate investment trust worth $405,492,000 after acquiring an additional 2,470,412 shares during the period. Norges Bank purchased a new stake in Blackstone Mortgage Trust in the fourth quarter valued at approximately $38,747,000. Blackstone increased its holdings in Blackstone Mortgage Trust by 9.5% in the fourth quarter. Blackstone now owns 7,948,955 shares of the real estate investment trust worth $169,074,000 after purchasing an additional 686,881 shares during the period. The Goldman Sachs Group Inc. increased its holdings in Blackstone Mortgage Trust by 82.6% during the fourth quarter. The Goldman Sachs Group Inc. now owns 1,169,503 shares of the real estate investment trust's stock valued at $24,875,000 after purchasing an additional 528,950 shares in the last quarter. Finally, Premier Fund Managers LLC purchased a new stake in Blackstone Mortgage Trust in the fourth quarter valued at approximately $6,355,000. Hedge funds and other institutional investors own 64.15% of the company's stock.
Insider Activities
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. Following the sale, the CEO now owns 182,960 shares of the company's stock, valued at $3,207,288.80. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link . In other 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 the transaction, the CEO now 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 at this link. 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 the sale, the CEO now owns 182,960 shares of the company's stock, valued at approximately $3,207,288.80. The disclosure for this sale can be viewed here. In the last three months, insiders have sold 11,057 shares of the company's stock for $191,141. Corporate insiders own 0.93% of the company's shares.
Blackstone Mortgage Trust shares fell 0.4%
BXMT shares opened trading at $18.88 on Monday. The company's 50-day moving average is $17.73 and its 200-day moving average is $19.04. The company has a market cap of $3.28 billion, a P/E ratio of 629.33 and a beta of 1.49. Blackstone Mortgage Trust, Inc.'s low over the past 12 months is $16.70 and its high over the past 12 months is $23.82.
Blackstone Mortgage Trust announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.62. This equates to an annualized dividend of $2.48 and a yield of 13.14%. The ex-dividend date is Friday, June 28th. Blackstone Mortgage Trust has a dividend payout ratio of 8,266.67%.
What Wall Street analysts are saying
Several research firms have commented on BXMT recently. 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 research note on Thursday, April 25th. Wolf Research initiated coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 25th. The firm set an “in-line with peer” rating for the company. Keefe, Bruett & Woods reaffirmed their “market-in-line” rating and set a $18.00 price target on Blackstone Mortgage Trust in a research note on Tuesday, June 18th. Wells Fargo & Company lowered their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, BTIG Research lowered their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 17. Seven research analysts have rated the stock with a hold rating and two have given a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “hold” and an average target price of $19.93.
Check out our latest analysis for BXMT
Blackstone Mortgage Trust Company 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 liens on commercial real estate assets.
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