Fred Alger Management Inc. decreased its holdings in Blackstone Mortgage Trust Inc (NYSE:BXMT) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,377 shares of the real estate investment trust’s stock after selling 4,740 shares during the period. Fred Alger Management Inc.’s holdings in Blackstone Mortgage Trust were worth $1,332,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of BXMT. SG Americas Securities LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth $422,000. Blackstone Group L.P. increased its holdings in shares of Blackstone Mortgage Trust by 14.4% in the 3rd quarter. Blackstone Group L.P. now owns 5,263,579 shares of the real estate investment trust’s stock worth $163,276,000 after purchasing an additional 663,846 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth $284,000. Janney Capital Management LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth $620,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth $203,000. 61.26% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on BXMT shares. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, January 25th. Wells Fargo & Co assumed coverage on Blackstone Mortgage Trust in a report on Wednesday, December 6th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods lowered Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Thursday, December 7th. JPMorgan Chase & Co. lowered Blackstone Mortgage Trust from an “overweight” rating to a “neutral” rating in a report on Tuesday, February 6th. Finally, B. Riley set a $33.00 price objective on Blackstone Mortgage Trust and gave the stock a “buy” rating in a report on Thursday, February 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.60.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 7.77%. Blackstone Mortgage Trust’s payout ratio is currently 109.25%.
Blackstone Mortgage Trust Profile
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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