Transcend Capital Advisors LLC Sells 1,364 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Transcend Capital Advisors LLC trimmed its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,182 shares of the real estate investment trust’s stock after selling 1,364 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Blackstone Mortgage Trust were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Stevens Capital Management LP bought a new position in Blackstone Mortgage Trust in the fourth quarter valued at approximately $223,000. Atria Wealth Solutions Inc. grew its stake in Blackstone Mortgage Trust by 88.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 21,654 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 10,183 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth approximately $45,000. Illinois Municipal Retirement Fund bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth approximately $2,308,000. Finally, MCF Advisors LLC boosted its stake in shares of Blackstone Mortgage Trust by 68.5% during the 4th quarter. MCF Advisors LLC now owns 29,086 shares of the real estate investment trust’s stock worth $636,000 after acquiring an additional 11,825 shares during the period. 64.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BXMT. Keefe, Bruyette & Woods reduced their target price on Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating for the company in a research note on Friday. Wells Fargo & Company reduced their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Bank of America cut Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $21.00 in a report on Monday, March 4th. Finally, BTIG Research dropped their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.93.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Insiders sold 5,540 shares of company stock valued at $112,642 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Shares of NYSE BXMT opened at $17.92 on Tuesday. The stock has a market capitalization of $3.11 billion, a PE ratio of 597.17 and a beta of 1.42. The business has a fifty day moving average price of $19.43 and a two-hundred day moving average price of $20.53. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $23.82.

Blackstone Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.62 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.48 annualized dividend and a yield of 13.84%. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

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.