Future Financial Wealth Managment LLC Purchases Shares of 5,000 Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Future Financial Wealth Managment LLC purchased a new position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) during the third quarter, Holdings Channel.com reports. The firm purchased 5,000 shares of the real estate investment trust’s stock, valued at approximately $95,000.

Several other large investors also recently modified their holdings of BXMT. Park Place Capital Corp acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at about $26,000. Versant Capital Management Inc grew its stake in Blackstone Mortgage Trust by 66.4% in the second quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 871 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of Blackstone Mortgage Trust during the fourth quarter valued at approximately $51,000. Wellington Shields & Co. LLC raised its position in shares of Blackstone Mortgage Trust by 98.0% during the second quarter. Wellington Shields & Co. LLC now owns 4,555 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,255 shares during the period. Finally, Westend Capital Management LLC bought a new position in shares of Blackstone Mortgage Trust in the 1st quarter worth $83,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy Steven Johnson acquired 57,050 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $17.50 per share, for a total transaction of $998,375.00. Following the completion of the acquisition, the director now owns 423,251 shares of the company’s stock, valued at approximately $7,406,892.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Timothy Steven Johnson acquired 57,050 shares of Blackstone Mortgage Trust stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $17.50 per share, with a total value of $998,375.00. Following the completion of the acquisition, the director now owns 423,251 shares in the company, valued at approximately $7,406,892.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan bought 16,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $17.16 per share, for a total transaction of $274,560.00. Following the completion of the purchase, the chief executive officer now owns 198,960 shares of the company’s stock, valued at approximately $3,414,153.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 83,050 shares of company stock valued at $1,448,135 and have sold 1,495 shares valued at $27,899. 0.93% of the stock is owned by insiders.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT stock opened at $17.72 on Thursday. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.53 and a 52-week high of $23.29. The company has a 50-day simple moving average of $18.34 and a two-hundred day simple moving average of $18.26. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 590.50 and a beta of 1.50.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $466.15 million during the quarter, compared to analyst estimates of $131.87 million. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. During the same period in the prior year, the company posted $0.75 earnings per share. On average, sell-side analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.94 EPS for the current fiscal year.

Blackstone Mortgage Trust declared that its board has authorized a stock repurchase program on Wednesday, July 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Blackstone Mortgage Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.61%. The ex-dividend date is Monday, September 30th. Blackstone Mortgage Trust’s payout ratio is 6,266.67%.

Wall Street Analyst Weigh In

BXMT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 18th. JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, July 23rd. Wolfe Research initiated coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Wells Fargo & Company boosted their price objective on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, BTIG Research reissued a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. 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, the stock currently has a consensus rating of “Hold” and an average price target of $20.08.

Blackstone Mortgage Trust Profile

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.