Insider Selling: Blackstone Mortgage Trust, Inc. (NYSE:BXMT) CEO Sells $79,025.24 in Stock

Blackstone Mortgage Trust, Inc. (NYSE:BXMTGet Free Report) CEO Katharine A. Keenan sold 4,508 shares of Blackstone Mortgage Trust 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 completion of the transaction, the chief executive officer now owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Blackstone Mortgage Trust Stock Performance

BXMT opened at $17.95 on Friday. The business’s 50-day simple moving average is $17.83 and its 200-day simple moving average is $19.58. Blackstone Mortgage Trust, Inc. has a one year low of $16.70 and a one year high of $23.82. The stock has a market capitalization of $3.12 billion, a P/E ratio of 598.33 and a beta of 1.47.

Blackstone Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.82%. The ex-dividend date of this dividend is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 8,266.67%.

Analyst Ratings Changes

A number of analysts have weighed in on BXMT shares. Wells Fargo & Company cut their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday. BTIG Research cut their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America cut Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.93.

Read Our Latest Research Report on BXMT

Institutional Trading of Blackstone Mortgage Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BXMT. Central Bank & Trust Co. acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at about $42,000. GAMMA Investing LLC acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at about $45,000. Creekmur Asset Management LLC acquired a new position in Blackstone Mortgage Trust in the 4th quarter valued at about $51,000. Finally, Sandy Spring Bank increased its position in Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 2,663 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Blackstone Mortgage Trust (NYSE:BXMT)

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