EverSource Wealth Advisors LLC Sells 2,010 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

EverSource Wealth Advisors LLC reduced its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 33.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,915 shares of the real estate investment trust’s stock after selling 2,010 shares during the period. EverSource Wealth Advisors LLC’s holdings in Blackstone Mortgage Trust were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BXMT. Cape Investment Advisory Inc. acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $42,000. GAMMA Investing LLC acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $45,000. Creekmur Asset Management LLC acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter worth approximately $51,000. Sandy Spring Bank boosted its holdings in shares of Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 2,663 shares in the last quarter. Finally, Westend Capital Management LLC acquired a new position in shares of Blackstone Mortgage Trust in the 1st quarter worth approximately $83,000. 64.15% of the stock is currently owned by institutional investors.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock traded up $0.25 during trading hours on Tuesday, reaching $17.44. The company had a trading volume of 1,107,732 shares, compared to its average volume of 2,148,378. The company has a 50 day moving average of $17.88 and a 200 day moving average of $18.73. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 580.67 and a beta of 1.49. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.53 and a 1-year high of $23.67.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. The company had revenue of $466.15 million for the quarter, compared to the consensus estimate of $131.87 million. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.94 EPS for the current fiscal year.

Blackstone Mortgage Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date is Monday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio is currently 6,266.67%.

Analyst Ratings Changes

BXMT has been the topic of several research reports. UBS Group reduced their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Wolfe Research initiated coverage on Blackstone Mortgage Trust in a report on Tuesday, June 25th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Wells Fargo & Company reduced their price objective on Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.58.

Insider Activity at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 4,508 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of 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 filing with the SEC, which is available through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.04, for a total transaction of $39,123.84. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katharine A. Keenan sold 4,508 shares of the firm’s stock in a transaction that occurred 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 owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The disclosure for this sale can be found here. Insiders sold a total of 11,057 shares of company stock worth $191,141 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

Blackstone Mortgage Trust Profile

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.