Envestnet Portfolio Solutions Inc. Sells 918 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,645 shares of the real estate investment trust’s stock after selling 918 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Blackstone Mortgage Trust were worth $293,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BXMT. Summa Corp. bought a new position in Blackstone Mortgage Trust in the first quarter worth $228,000. QRG Capital Management Inc. raised its stake in shares of Blackstone Mortgage Trust by 4.8% in the 1st quarter. QRG Capital Management Inc. now owns 264,117 shares of the real estate investment trust’s stock valued at $5,282,000 after buying an additional 12,056 shares in the last quarter. Shikiar Asset Management Inc. bought a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth about $290,000. Janney Montgomery Scott LLC lifted its holdings in shares of Blackstone Mortgage Trust by 45.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 6,571 shares during the period. Finally, Sound Income Strategies LLC boosted its position in shares of Blackstone Mortgage Trust by 18,595.8% during the 1st quarter. Sound Income Strategies LLC now owns 4,487 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 4,463 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 1,517 shares of Blackstone Mortgage Trust stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total value of $29,126.40. Following the sale, the chief financial officer now owns 64,082 shares of the company’s stock, valued at $1,230,374.40. This trade represents a 2.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry N. Nassau bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $18.90 per share, for a total transaction of $189,000.00. Following the transaction, the director now owns 182,946 shares in the company, valued at $3,457,679.40. The trade was a 5.78% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 9,248 shares of company stock worth $177,028 in the last ninety days. Company insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

BXMT has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. UBS Group reissued a “neutral” rating and issued a $19.50 target price (up from $19.00) on shares of Blackstone Mortgage Trust in a report on Wednesday, May 21st. Keefe, Bruyette & Woods decreased their price target on Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating on the stock in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone Mortgage Trust has a consensus rating of “Hold” and an average target price of $20.50.

Blackstone Mortgage Trust Trading Down 0.3%

NYSE:BXMT opened at $19.72 on Monday. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.51 and a 1-year high of $21.24. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -42.87 and a beta of 1.11. The business’s 50-day moving average price is $19.11 and its two-hundred day moving average price is $19.01.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.47 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.53%. Blackstone Mortgage Trust’s dividend payout ratio is -408.70%.

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.