Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Brief Interest Update
Blackstone Mortgage Trust, Inc. (NYSE: BXMT – Get Rating) benefited from a sharp drop in short-term interest rates in October. As of October 15, there was short interest totaling 6,780,000 shares, down 9.5% from the September 30 total of 7,490,000 shares. Based on an average trading volume of 1,940,000 shares, the day-to-cover ratio is currently 3.5 days.
Insider Buying and Selling at Blackstone Mortgage Trust
In other news, CEO Katharine A. Keenan sold 2,270 shares of Blackstone Mortgage Trust in a trade on Friday, September 9. The shares were sold at an average price of $28.70, for a total transaction of $65,149.00. Following the transaction, the CEO now owns 120,872 shares of the company, valued at $3,469,026.40. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In the past ninety days, insiders have sold 4,148 shares of the company worth $114,708. 1.06% of the shares are currently held by insiders of the company.
Hedge funds weigh on Blackstone Mortgage Trust
Institutional investors have recently changed their stake in the company. Karpas Strategies LLC increased its holdings of Blackstone Mortgage Trust shares by 1.6% during the third quarter. Karpas Strategies LLC now owns 84,730 shares of the real estate investment trust valued at $1,978,000 after purchasing an additional 1,365 shares in the last quarter. Prospera Financial Services Inc increased its stake in Blackstone Mortgage Trust by 3.8% during the third quarter. Prospera Financial Services Inc now owns 80,406 shares of the real estate investment trust valued at $1,877,000 after purchasing an additional 2,950 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Blackstone Mortgage Trust by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 69,687 shares of the real estate investment trust worth $1,626,000 after purchasing an additional 1,087 shares in the last quarter. Shikiar Asset Management Inc. increased its stake in shares of Blackstone Mortgage Trust by 152.1% in the third quarter. Shikiar Asset Management Inc. now owns 90,200 shares of the real estate investment trust worth $2,105,000 after purchasing an additional 54,425 shares in the last quarter. Finally, Artemis Investment Management LLP increased its equity stake in Blackstone Mortgage Trust by 3.2% in the third quarter. Artemis Investment Management LLP now owns 1,746,353 shares of the real estate investment trust worth $40,776,000 after buying an additional 53,809 shares in the last quarter. 55.28% of the shares are held by institutional investors and hedge funds.
Blackstone Mortgage Trust trades up 2.6%
BXMT stock traded down $0.64 at midday on Friday, hitting $25.45. The company’s shares had a trading volume of 1,928,284 shares, compared to an average trading volume of 2,903,944 shares. Blackstone Mortgage Trust has a 12-month low of $21.49 and a 12-month high of $34.04. The company’s 50-day moving average price is $26.31 and its 200-day moving average price is $28.61. The company has a market capitalization of $4.35 billion, a price-earnings ratio of 10.30 and a beta of 1.27.
Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) last released quarterly earnings data on Wednesday, October 26. The real estate investment trust reported earnings per share of $0.71 for the quarter, beating the consensus estimate of $0.67 by $0.04. Blackstone Mortgage Trust had a net margin of 39.99% and a return on equity of 9.33%. During the same period last year, the company posted earnings per share of $0.57. As a group, stock analysts expect Blackstone Mortgage Trust to post EPS of 2.42 for the current fiscal year.
Blackstone Mortgage Trust announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 14. Investors of record on Friday, September 30 received a dividend of $0.62. This represents a dividend of $2.48 on an annualized basis and a yield of 9.74%. The ex-dividend date was Thursday, September 29. Blackstone Mortgage Trust’s payout ratio is 100.40%.
A Wall Street analyst gives his opinion
A number of stock analysts have recently released reports on BXMT shares. StockNews.com began covering Blackstone Mortgage Trust in a research report on Wednesday, October 12. They set a “hold” rating for the company. BTIG Research lowered its price target on shares of Blackstone Mortgage Trust from $32.00 to $28.00 in a research report on Wednesday. Credit Suisse Group cut its price target on shares of Blackstone Mortgage Trust to $27.00 in a research note on Thursday, October 13. Finally, JPMorgan Chase & Co. lowered its price target on Blackstone Mortgage Trust shares from $30.00 to $27.50 and set a “neutral” rating for the company in a Monday, October 24 research note. .
About Blackstone Mortgage Trust
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Blackstone Mortgage Trust, Inc, a real estate finance company, issues senior loans secured by commercial properties in North America, Europe and Australia. The Company operates as a real estate investment trust for federal income tax purposes. It would generally not be subject to US federal income tax if it distributed at least 90% of its taxable income to its shareholders.
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