Fred Alger Management Inc. cut its stake in shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) by 10.3% during the 4th quarter, HoldingsChannel reports. The firm owned 41,377 shares of the real estate investment trust’s stock after selling 4,740 shares during the quarter. Fred Alger Management Inc.’s holdings in Blackstone Mortgage Trust were worth $1,332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BXMT. MCF Advisors LLC purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $103,000. Ffcm LLC lifted its position in shares of Blackstone Mortgage Trust by 151.5% in the fourth quarter. Ffcm LLC now owns 4,656 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 2,805 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Blackstone Mortgage Trust by 56.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,829 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 1,745 shares in the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $200,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Blackstone Mortgage Trust in the third quarter valued at about $203,000. Institutional investors own 61.26% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) opened at $31.92 on Wednesday. The company has a market capitalization of $3,450.00, a PE ratio of 14.06, a P/E/G ratio of 2.66 and a beta of 0.57. Blackstone Mortgage Trust Inc has a 52-week low of $29.51 and a 52-week high of $33.08.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.77%. Blackstone Mortgage Trust’s dividend payout ratio is currently 109.25%.

BXMT has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Blackstone Mortgage Trust from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 6th. Wells Fargo & Co initiated coverage on Blackstone Mortgage Trust in a research report on Wednesday, December 6th. They issued an “outperform” rating on the stock. Keefe, Bruyette & Woods downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 7th. Zacks Investment Research downgraded Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, B. Riley set a $33.00 price objective on Blackstone Mortgage Trust and gave the company a “buy” rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $33.60.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.dailypolitical.com/2018/03/14/fred-alger-management-inc-has-1-33-million-position-in-blackstone-mortgage-trust-inc-bxmt.html.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.

Want to see what other hedge funds are holding BXMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Mortgage Trust Inc (NYSE:BXMT).

Institutional Ownership by Quarter for Blackstone Mortgage Trust (NYSE:BXMT)

Receive News & Ratings for Blackstone Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.