Principal Financial Group Inc. Sells 217,785 Shares of Blackstone Mortgage Trust Inc (BXMT)
Principal Financial Group Inc. decreased its holdings in Blackstone Mortgage Trust Inc (NYSE:BXMT) by 77.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,335 shares of the real estate investment trust’s stock after selling 217,785 shares during the period. Principal Financial Group Inc.’s holdings in Blackstone Mortgage Trust were worth $2,018,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. United Services Automobile Association increased its holdings in Blackstone Mortgage Trust by 15.3% in the third quarter. United Services Automobile Association now owns 18,813 shares of the real estate investment trust’s stock worth $630,000 after purchasing an additional 2,499 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in Blackstone Mortgage Trust by 55.8% in the third quarter. MetLife Investment Advisors LLC now owns 76,171 shares of the real estate investment trust’s stock worth $2,552,000 after purchasing an additional 27,276 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Blackstone Mortgage Trust by 29.7% in the third quarter. Mackenzie Financial Corp now owns 20,165 shares of the real estate investment trust’s stock worth $676,000 after purchasing an additional 4,615 shares in the last quarter. AQR Capital Management LLC increased its holdings in Blackstone Mortgage Trust by 132.2% in the third quarter. AQR Capital Management LLC now owns 178,183 shares of the real estate investment trust’s stock worth $5,971,000 after purchasing an additional 101,458 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Blackstone Mortgage Trust by 44.1% in the third quarter. Glenmede Trust Co. NA now owns 19,600 shares of the real estate investment trust’s stock worth $656,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 61.87% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. JMP Securities reiterated a “hold” rating on shares of Blackstone Mortgage Trust in a report on Sunday, February 17th. Finally, Deutsche Bank upgraded Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.63.
Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The firm had revenue of $102.15 million during the quarter, compared to the consensus estimate of $95.88 million. Blackstone Mortgage Trust had a return on equity of 9.58% and a net margin of 51.44%. The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, sell-side analysts expect that Blackstone Mortgage Trust Inc will post 2.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.48 annualized dividend and a dividend yield of 7.14%. Blackstone Mortgage Trust’s dividend payout ratio is 93.58%.
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Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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