Apollon Wealth Management LLC Lowers Stock Position in Blackstone Mortgage Trust, Inc. $BXMT

Apollon Wealth Management LLC lessened its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 5.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,935 shares of the real estate investment trust’s stock after selling 2,851 shares during the period. Apollon Wealth Management LLC’s holdings in Blackstone Mortgage Trust were worth $923,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BXMT. GAMMA Investing LLC lifted its position in shares of Blackstone Mortgage Trust by 187.8% in the 1st quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 1,944 shares during the period. Sound Income Strategies LLC lifted its position in shares of Blackstone Mortgage Trust by 18,595.8% in the 1st quarter. Sound Income Strategies LLC now owns 4,487 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 4,463 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Blackstone Mortgage Trust by 45.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 6,571 shares during the period. QRG Capital Management Inc. raised its stake in shares of Blackstone Mortgage Trust by 4.8% during the 1st quarter. QRG Capital Management Inc. now owns 264,117 shares of the real estate investment trust’s stock worth $5,282,000 after acquiring an additional 12,056 shares in the last quarter. Finally, Summa Corp. bought a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth approximately $228,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Trading Up 1.6%

Shares of Blackstone Mortgage Trust stock opened at $18.55 on Wednesday. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.51 and a 12-month high of $21.24. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -264.99 and a beta of 1.15. The firm’s 50 day simple moving average is $19.05 and its two-hundred day simple moving average is $19.07.

Blackstone Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 10.1%. Blackstone Mortgage Trust’s dividend payout ratio is presently -2,685.71%.

Insider Transactions at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total transaction of $89,517.57. Following the transaction, the chief executive officer owned 230,006 shares in the company, valued at approximately $4,482,816.94. This represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 8,818 shares of company stock worth $171,190. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BXMT shares. UBS Group boosted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Blackstone Mortgage Trust in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.63.

Blackstone Mortgage Trust Profile

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.