Insider Selling: Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CFO Sells 1,002 Shares of Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CFO Anthony F. Marone, Jr. sold 1,002 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $17.56, for a total value of $17,595.12. Following the completion of the transaction, the chief financial officer now owns 58,118 shares of the company’s stock, valued at approximately $1,020,552.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Blackstone Mortgage Trust Price Performance

Shares of Blackstone Mortgage Trust stock opened at $17.93 on Wednesday. The stock has a market cap of $3.11 billion, a P/E ratio of 597.67 and a beta of 1.47. The stock’s 50 day simple moving average is $17.87 and its 200-day simple moving average is $19.60. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.70 and a 1-year high of $23.82.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 13.83%. The ex-dividend date is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Strategic Advisors LLC lifted its holdings in Blackstone Mortgage Trust by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock valued at $1,772,000 after acquiring an additional 500 shares during the last quarter. Brown Advisory Inc. lifted its stake in Blackstone Mortgage Trust by 7.0% during the fourth quarter. Brown Advisory Inc. now owns 11,136 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 727 shares in the last quarter. CWM LLC lifted its stake in Blackstone Mortgage Trust by 7.5% during the fourth quarter. CWM LLC now owns 12,856 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 897 shares in the last quarter. Essex Financial Services Inc. lifted its stake in Blackstone Mortgage Trust by 8.9% during the fourth quarter. Essex Financial Services Inc. now owns 12,228 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Blackstone Mortgage Trust by 14.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,465 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 1,039 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BXMT shares. JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company cut their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. BTIG Research cut their price objective on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 price objective on shares of Blackstone Mortgage Trust in a research note on Tuesday. Finally, UBS Group cut their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.93.

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.