State of New Jersey Common Pension Fund D decreased its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) by 8.1% during the 1st quarter, HoldingsChannel reports. The fund owned 81,654 shares of the real estate investment trust’s stock after selling 7,198 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Blackstone Mortgage Trust were worth $2,596,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $25,000. Nauset Wealth Management. LLC acquired a new position in Blackstone Mortgage Trust in the first quarter valued at about $31,000. MBM Wealth Consultants LLC acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $52,000. Covestor Ltd acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $60,000. Finally, Western Pacific Wealth Management LP acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $67,000. Institutional investors and hedge funds own 55.13% of the company’s stock.
Blackstone Mortgage Trust Price Performance
Shares of NYSE:BXMT opened at $30.97 on Monday. The firm has a market capitalization of $5.27 billion, a PE ratio of 11.10 and a beta of 1.22. The firm’s 50-day moving average is $29.16 and its two-hundred day moving average is $30.52. Blackstone Mortgage Trust, Inc. has a 1 year low of $25.99 and a 1 year high of $34.04.
Blackstone Mortgage Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $2.48 dividend on an annualized basis and a yield of 8.01%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 88.89%.
Analysts Set New Price Targets
Separately, Credit Suisse Group decreased their target price on shares of Blackstone Mortgage Trust to $30.00 in a research report on Friday, July 22nd.
Insider Buying and Selling
In related news, CEO Katharine A. Keenan sold 1,013 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $27.50, for a total transaction of $27,857.50. Following the sale, the chief executive officer now directly owns 124,299 shares in the company, valued at $3,418,222.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jonathan Lee Pollack bought 13,500 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The shares were purchased at an average cost of $26.16 per share, for a total transaction of $353,160.00. Following the completion of the purchase, the director now owns 114,683 shares of the company’s stock, valued at $3,000,107.28. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 1,013 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $27.50, for a total value of $27,857.50. Following the completion of the transaction, the chief executive officer now directly owns 124,299 shares of the company’s stock, valued at $3,418,222.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,162 shares of company stock worth $340,338. Company insiders own 1.06% of the company’s stock.
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 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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