Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC cut its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,923 shares of the real estate investment trust’s stock after selling 19,040 shares during the quarter. Truvestments Capital LLC owned 0.05% of Blackstone Mortgage Trust worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BXMT. Concurrent Investment Advisors LLC acquired a new stake in Blackstone Mortgage Trust during the 3rd quarter worth approximately $253,000. Entropy Technologies LP increased its position in shares of Blackstone Mortgage Trust by 31.3% in the 3rd quarter. Entropy Technologies LP now owns 72,432 shares of the real estate investment trust’s stock valued at $1,377,000 after purchasing an additional 17,259 shares during the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter valued at approximately $715,000. Natixis Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter valued at approximately $211,000. Finally, Chesapeake Capital Corp IL purchased a new position in shares of Blackstone Mortgage Trust in the 3rd quarter valued at $375,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Mortgage Trust Price Performance

Shares of BXMT opened at $20.25 on Wednesday. Blackstone Mortgage Trust, Inc. has a one year low of $16.53 and a one year high of $21.09. The company has a 50-day moving average of $18.94 and a two-hundred day moving average of $18.73. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -17.30 and a beta of 1.52.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. Analysts anticipate that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date was Tuesday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio is -160.68%.

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,323 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.70, for a total value of $48,086.10. Following the sale, the chief executive officer now owns 248,487 shares in the company, valued at approximately $5,143,680.90. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,345 shares of company stock valued at $68,265 over the last 90 days. 0.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BXMT shares. Wolfe Research upgraded shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Finally, UBS Group boosted their target price on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust has an average rating of “Hold” and a consensus target price of $20.67.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.