Edgestream Partners L.P. Sells 30,611 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Edgestream Partners L.P. trimmed its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 30.1% in the 1st quarter, HoldingsChannel reports. The firm owned 71,134 shares of the real estate investment trust’s stock after selling 30,611 shares during the quarter. Edgestream Partners L.P.’s holdings in Blackstone Mortgage Trust were worth $1,416,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bracebridge Capital LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 1st quarter worth approximately $4,141,000. TCTC Holdings LLC raised its holdings in Blackstone Mortgage Trust by 34.2% during the 1st quarter. TCTC Holdings LLC now owns 15,700 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 4,000 shares during the period. Entropy Technologies LP purchased a new stake in Blackstone Mortgage Trust in the first quarter worth $943,000. ProShare Advisors LLC increased its stake in Blackstone Mortgage Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 34,760 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 2,397 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Blackstone Mortgage Trust by 20.5% in the first quarter. QRG Capital Management Inc. now owns 207,810 shares of the real estate investment trust’s stock worth $4,137,000 after purchasing an additional 35,291 shares during the period. 64.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone Mortgage Trust

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

Analyst Ratings Changes

A number of research firms have weighed in on BXMT. BTIG Research reiterated a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Friday. Wells Fargo & Company reduced their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Wolfe Research began coverage on Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They set a “peer perform” rating on the stock. UBS Group dropped their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 18th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.07.

Blackstone Mortgage Trust Price Performance

BXMT stock traded up $0.11 during trading on Tuesday, hitting $19.73. 505,860 shares of the company traded hands, compared to its average volume of 2,067,662. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.70 and a 1 year high of $23.82. The stock’s 50-day simple moving average is $17.91 and its 200 day simple moving average is $18.97. The company has a market cap of $3.42 billion, a PE ratio of 657.67 and a beta of 1.49.

Blackstone Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 12.57%. The ex-dividend date of this dividend was Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

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.