QRG Capital Management Inc. Purchases 35,291 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

QRG Capital Management Inc. grew its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 20.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,810 shares of the real estate investment trust’s stock after purchasing an additional 35,291 shares during the period. QRG Capital Management Inc. owned about 0.12% of Blackstone Mortgage Trust worth $4,137,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Central Bank & Trust Co. bought a new position in Blackstone Mortgage Trust during the 4th quarter worth approximately $25,000. Cape Investment Advisory Inc. bought a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth approximately $42,000. GAMMA Investing LLC purchased a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth $45,000. Creekmur Asset Management LLC bought a new stake in Blackstone Mortgage Trust during the 4th quarter valued at $51,000. Finally, Sandy Spring Bank boosted its position in Blackstone Mortgage Trust by 10,652.0% during the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 2,663 shares during the period. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Up 1.1 %

Shares of NYSE:BXMT traded up $0.21 during midday trading on Wednesday, reaching $19.70. The company’s stock had a trading volume of 455,507 shares, compared to its average volume of 2,069,371. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.70 and a 12-month high of $23.82. The firm has a market capitalization of $3.42 billion, a P/E ratio of 649.67 and a beta of 1.49. The firm has a 50 day moving average of $17.77 and a 200-day moving average of $19.01.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.48 annualized dividend and a dividend yield of 12.59%. Blackstone Mortgage Trust’s payout ratio is 8,266.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company cut their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 18th. Wolfe Research initiated coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Finally, BTIG Research decreased their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.93.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,296 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.04, for a total transaction of $39,123.84. Following the completion of the transaction, the chief executive officer now directly owns 187,468 shares in the company, valued at $3,194,454.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Katharine A. Keenan sold 4,508 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the sale, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katharine A. Keenan sold 2,296 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the sale, the chief executive officer now owns 187,468 shares of the company’s stock, valued at $3,194,454.72. The disclosure for this sale can be found here. Insiders have sold a total of 11,057 shares of company stock valued at $191,141 in the last ninety days. 0.93% of the stock is currently owned by corporate insiders.

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.