Wells Fargo & Company MN Has $14.20 Million Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Wells Fargo & Company MN lifted its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 815,750 shares of the real estate investment trust’s stock after buying an additional 141,573 shares during the period. Wells Fargo & Company MN owned about 0.47% of Blackstone Mortgage Trust worth $14,202,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BXMT. ExodusPoint Capital Management LP acquired a new position in Blackstone Mortgage Trust during the 4th quarter worth approximately $4,952,000. Cinctive Capital Management LP acquired a new position in Blackstone Mortgage Trust during the fourth quarter worth $1,292,000. Huntington National Bank grew its position in Blackstone Mortgage Trust by 1,672.9% in the fourth quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 2,844 shares in the last quarter. Norges Bank acquired a new stake in Blackstone Mortgage Trust in the 4th quarter valued at $35,662,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Blackstone Mortgage Trust during the 4th quarter worth about $56,000. 64.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,315 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 17th. The stock was sold at an average price of $20.70, for a total transaction of $47,920.50. Following the completion of the sale, the chief executive officer now owns 246,172 shares of the company’s stock, valued at approximately $5,095,760.40. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 5,652 shares of company stock valued at $116,971 in the last ninety days. 0.93% of the stock is currently owned by corporate insiders.

Blackstone Mortgage Trust Price Performance

Shares of BXMT opened at $18.12 on Tuesday. The company’s 50-day moving average is $19.74 and its 200-day moving average is $18.83. The firm has a market capitalization of $3.11 billion, a PE ratio of -15.49 and a beta of 1.22. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $21.24.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating 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 predict that Blackstone Mortgage Trust, Inc. will post 1.65 earnings per share for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.47 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 10.38%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently -160.68%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, April 7th. UBS Group boosted their target price on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.75.

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.