Rhumbline Advisers Sells 31,258 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Rhumbline Advisers reduced its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 477,243 shares of the real estate investment trust’s stock after selling 31,258 shares during the period. Rhumbline Advisers’ holdings in Blackstone Mortgage Trust were worth $8,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baker Avenue Asset Management LP purchased a new stake in Blackstone Mortgage Trust during the 2nd quarter valued at $1,588,000. Advisors Capital Management LLC lifted its holdings in shares of Blackstone Mortgage Trust by 4.4% during the second quarter. Advisors Capital Management LLC now owns 1,078,886 shares of the real estate investment trust’s stock valued at $20,769,000 after purchasing an additional 45,871 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Blackstone Mortgage Trust during the second quarter valued at $844,000. Norges Bank purchased a new stake in shares of Blackstone Mortgage Trust during the second quarter valued at $34,608,000. Finally, Cetera Investment Advisers increased its holdings in Blackstone Mortgage Trust by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 150,489 shares of the real estate investment trust’s stock worth $2,897,000 after buying an additional 2,736 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BXMT has been the topic of several research analyst reports. BTIG Research restated a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Blackstone Mortgage Trust from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.13.

Insider Buying and Selling

In other news, President Fernando Austin Pena sold 3,131 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $19.24, for a total value of $60,240.44. Following the transaction, the president owned 78,633 shares of the company’s stock, valued at $1,512,898.92. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 5,049 shares of company stock valued at $98,716 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Shares of Blackstone Mortgage Trust stock opened at $19.49 on Friday. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24. The company’s fifty day simple moving average is $19.57 and its 200-day simple moving average is $19.16. The stock has a market capitalization of $3.29 billion, a PE ratio of 29.98 and a beta of 1.07.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Wednesday, December 31st. Blackstone Mortgage Trust’s payout ratio is currently 289.23%.

Blackstone Mortgage Trust Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.