Short-term stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) increases 40.5%

Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) benefited from a significant increase in short-term interest rates in June. As of June 30, there was short interest totaling 7,210,000 shares, an increase of 40.5% from the total of 5,130,000 shares as of June 15. Based on an average daily trading volume of 1,490,000 shares, the day-to-cover ratio is currently 4.8 days.

Blackstone Mortgage Trust Price Performance

BXMT shares opened at $28.57 on Monday. The company has a 50-day moving average of $29.22 and a 200-day moving average of $30.63. Blackstone Mortgage Trust has a 1-year minimum of $25.99 and a 1-year maximum of $34.04. The stock has a market capitalization of $4.87 billion, a PE ratio of 10.24 and a beta of 1.22.

Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) last reported quarterly results on Wednesday, April 27. The real estate investment trust reported earnings per share of $0.62 for the quarter, missing the consensus estimate of $0.64 per ($0.02). Blackstone Mortgage Trust had a net margin of 54.55% and a return on equity of 8.75%. The company posted revenue of $133.72 million for the quarter, compared to $133.75 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.53. The company’s quarterly revenue increased 22.5% year over year. Analysts expect Blackstone Mortgage Trust to post EPS of 2.31 for the current year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.62 per share. This represents a dividend of $2.48 on an annualized basis and a dividend yield of 8.68%. The ex-dividend date was Wednesday, June 29. Blackstone Mortgage Trust’s payout ratio is 88.89%.

Analyst upgrades and downgrades

Separately, StockNews.com launched coverage on Blackstone Mortgage Trust in a Thursday, March 31 report. They issued a “hold” rating on the stock.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 1,154 shares of the company in a trade dated Monday, June 6. The shares were sold at an average price of $31.13, for a total transaction of $35,924.02. As a result of the sale, the CEO now directly owns 129,852 shares of the company, valued at $4,042,292.76. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 1,154 shares of the company in a trade on Monday, June 6. The shares were sold at an average price of $31.13, for a total transaction of $35,924.02. As a result of the sale, the CEO now owns 129,852 shares of the company, valued at approximately $4,042,292.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Chief Financial Officer Anthony F. Marone, Jr. sold 967 shares of the company in a trade on Thursday, June 9. The stock was sold at an average price of $30.62, for a total value of $29,609.54. Following the completion of the transaction, the CFO now directly owns 45,246 shares of the company, valued at $1,385,432.52. The disclosure of this sale can be found here. Insiders sold a total of 11,162 shares of the company worth $340,338 in the past ninety days. 1.06% of the shares are currently held by insiders of the company.

Blackstone Mortgage Trust Institutional Trading

Major investors have recently been buying and selling shares of the company. Spire Wealth Management increased its holdings of Blackstone Mortgage Trust shares by 253.3% during the 4th quarter. Spire Wealth Management now owns 3,886 shares of the real estate investment trust valued at $119,000 after buying 2,786 additional shares last quarter. Transcend Wealth Collective LLC increased its stake in Blackstone Mortgage Trust by 18.2% during the fourth quarter. Transcend Wealth Collective LLC now owns 14,972 shares of the real estate investment trust worth $458,000 after acquiring 2,302 additional shares in the last quarter. Strs Ohio increased its holdings in Blackstone Mortgage Trust by 7.6% in the fourth quarter. Strs Ohio now owns 36,700 shares of the real estate investment trust worth $1,123,000 after buying 2,600 additional shares during the period. Hudson Valley Investment Advisors Inc. ADV bought a new stock position in Blackstone Mortgage Trust during the fourth quarter, valued at approximately $213,000. Finally, Van ECK Associates Corp increased its equity stake in Blackstone Mortgage Trust by 14.7% during the fourth quarter. Van ECK Associates Corp now owns 557,622 shares of the real estate investment trust worth $17,074,000 after buying an additional 71,363 shares in the last quarter. 55.13% of the shares are held by institutional investors.

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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