Alliancebernstein L.P. cut its stake in shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) by 30.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 374,990 shares of the real estate investment trust’s stock after selling 164,340 shares during the quarter. Alliancebernstein L.P. owned approximately 0.32% of Blackstone Mortgage Trust worth $12,566,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in Blackstone Mortgage Trust in the second quarter worth approximately $287,000. BNP Paribas Arbitrage SA raised its stake in Blackstone Mortgage Trust by 1,328.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,055 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 5,631 shares in the last quarter. First Trust Advisors LP raised its stake in Blackstone Mortgage Trust by 45.8% in the second quarter. First Trust Advisors LP now owns 247,539 shares of the real estate investment trust’s stock worth $7,780,000 after buying an additional 77,814 shares in the last quarter. Barnett & Company Inc. raised its stake in Blackstone Mortgage Trust by 113.8% in the second quarter. Barnett & Company Inc. now owns 9,937 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 5,290 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in Blackstone Mortgage Trust in the second quarter worth approximately $3,331,000. 64.12% of the stock is owned by institutional investors.
NYSE BXMT opened at $35.01 on Friday. Blackstone Mortgage Trust Inc has a 12-month low of $29.51 and a 12-month high of $35.70. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.65 and a beta of 0.45.
Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Blackstone Mortgage Trust had a net margin of 50.60% and a return on equity of 9.36%. The business had revenue of $105.15 million for the quarter, compared to analyst estimates of $97.06 million. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, sell-side analysts anticipate that Blackstone Mortgage Trust Inc will post 2.64 EPS for the current fiscal year.
In other news, Director Leonard W. Cotton purchased 3,000 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were acquired at an average cost of $33.87 per share, with a total value of $101,610.00. Following the completion of the acquisition, the director now owns 19,074 shares of the company’s stock, valued at $646,036.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Treasurer Douglas N. Armer sold 806 shares of Blackstone Mortgage Trust stock in a transaction on Friday, November 30th. The stock was sold at an average price of $34.93, for a total transaction of $28,153.58. Following the completion of the transaction, the treasurer now directly owns 79,481 shares in the company, valued at $2,776,271.33. The disclosure for this sale can be found here. Insiders sold 2,417 shares of company stock worth $84,309 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.
A number of equities analysts recently commented on BXMT shares. Zacks Investment Research downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Credit Suisse Group boosted their price objective on shares of Blackstone Mortgage Trust from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 21st. BTIG Research started coverage on shares of Blackstone Mortgage Trust in a research note on Monday, October 8th. They issued a “neutral” rating for the company. Citigroup started coverage on shares of Blackstone Mortgage Trust in a research note on Friday, October 12th. They issued a “neutral” rating and a $33.00 price objective for the company. Finally, ValuEngine raised shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.25.
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About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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