Geode Capital Management LLC Lowers Holdings in Blackstone Mortgage Trust, Inc. $BXMT

Geode Capital Management LLC trimmed its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,926,387 shares of the real estate investment trust’s stock after selling 60,086 shares during the quarter. Geode Capital Management LLC owned 2.34% of Blackstone Mortgage Trust worth $75,122,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BXMT. Jones Financial Companies Lllp boosted its stake in shares of Blackstone Mortgage Trust by 45.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 536 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth about $41,000. Advisory Services Network LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter worth about $46,000. Farther Finance Advisors LLC boosted its stake in shares of Blackstone Mortgage Trust by 259.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,634 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,902 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth about $73,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BXMT has been the topic of several recent analyst reports. Zacks Research lowered shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings lowered shares of Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. UBS Group initiated coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They set a “buy” rating and a $21.00 target price on the stock. BTIG Research reissued a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Blackstone Mortgage Trust Stock Down 1.7%

BXMT opened at $18.05 on Tuesday. Blackstone Mortgage Trust, Inc. has a twelve month low of $17.67 and a twelve month high of $20.67. The company has a 50-day moving average price of $18.91 and a 200 day moving average price of $19.25. The company has a market cap of $3.04 billion, a PE ratio of 29.58 and a beta of 0.89.

Blackstone Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 10.4%. The ex-dividend date was Tuesday, March 31st. Blackstone Mortgage Trust’s dividend payout ratio is 308.20%.

Insider Buying and Selling at Blackstone Mortgage Trust

In related news, President Fernando Austin Pena sold 1,666 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total transaction of $31,454.08. Following the completion of the transaction, the president owned 76,967 shares in the company, valued at $1,453,136.96. This represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.18% of the stock is currently owned by company insiders.

Blackstone Mortgage Trust Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.