Raymond James & Associates Sells 8,926 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Raymond James & Associates cut its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,827 shares of the real estate investment trust’s stock after selling 8,926 shares during the quarter. Raymond James & Associates’ holdings in Blackstone Mortgage Trust were worth $1,336,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky bought a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at approximately $1,136,000. Ibex Wealth Advisors bought a new position in Blackstone Mortgage Trust in the 3rd quarter worth approximately $4,716,000. Vanguard Group Inc. boosted its stake in Blackstone Mortgage Trust by 15.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock worth $405,492,000 after purchasing an additional 2,470,412 shares during the period. Jump Financial LLC boosted its stake in Blackstone Mortgage Trust by 124.8% in the 3rd quarter. Jump Financial LLC now owns 78,673 shares of the real estate investment trust’s stock worth $1,711,000 after purchasing an additional 43,673 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Blackstone Mortgage Trust by 45.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,141,173 shares of the real estate investment trust’s stock worth $46,578,000 after purchasing an additional 669,172 shares during the period. 64.15% of the stock is currently owned by institutional investors.

Blackstone Mortgage Trust Price Performance

Shares of BXMT opened at $18.55 on Friday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.15 and a beta of 1.42. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.83 and a 1 year high of $23.82. The business’s 50 day simple moving average is $19.57 and its 200-day simple moving average is $20.66.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 annualized dividend and a yield of 13.37%. Blackstone Mortgage Trust’s payout ratio is presently 175.89%.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,540 shares of company stock worth $112,642. Company insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BXMT. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $21.00 in a research note on Monday, March 4th. UBS Group dropped their price target on Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods decreased their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. BTIG Research decreased their price objective on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.83.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.