Toronto Dominion Bank cut its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,570 shares of the real estate investment trust’s stock after selling 1,246 shares during the quarter. Toronto Dominion Bank’s holdings in Blackstone Mortgage Trust were worth $715,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in BXMT. Edge Wealth Management LLC lifted its stake in shares of Blackstone Mortgage Trust by 79.2% in the third quarter. Edge Wealth Management LLC now owns 941 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 416 shares in the last quarter. Sawyer & Company Inc lifted its stake in shares of Blackstone Mortgage Trust by 400.0% in the third quarter. Sawyer & Company Inc now owns 1,000 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 800 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Blackstone Mortgage Trust by 1,000.0% in the third quarter. Spire Wealth Management now owns 1,100 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,000 shares in the last quarter. AGF Investments LLC purchased a new stake in shares of Blackstone Mortgage Trust in the second quarter valued at about $36,000. Finally, Resources Management Corp CT ADV purchased a new stake in shares of Blackstone Mortgage Trust in the second quarter valued at about $47,000. 51.49% of the stock is currently owned by hedge funds and other institutional investors.
BXMT stock opened at $31.91 on Friday. The firm has a 50 day moving average of $31.50 and a 200-day moving average of $31.75. Blackstone Mortgage Trust, Inc. has a 12 month low of $26.38 and a 12 month high of $34.04. The firm has a market capitalization of $5.34 billion, a P/E ratio of 12.46 and a beta of 1.36.
The business also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, December 31st were given a dividend of $0.62 per share. The ex-dividend date was Thursday, December 30th. This represents a $2.48 annualized dividend and a yield of 7.77%. Blackstone Mortgage Trust’s payout ratio is presently 96.88%.
In other Blackstone Mortgage Trust news, EVP Douglas N. Armer sold 832 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $33.46, for a total transaction of $27,838.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry N. Nassau purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The shares were acquired at an average cost of $32.73 per share, for a total transaction of $981,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,469 shares of company stock valued at $79,567. 1.06% of the stock is currently owned by company insiders.
Several brokerages have recently commented on BXMT. Keefe, Bruyette & Woods upgraded shares of Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Monday, November 29th. Zacks Investment Research upgraded shares of Blackstone Mortgage Trust from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $33.00.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc is a real estate finance company, which engages in originating senior loans collateralized by commercial real estate. Its investment objective is to preserve and protect shareholder capital while producing risk-adjusted returns primarily through dividends generated from current income from its loan portfolio.
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