Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,427 shares of the real estate investment trust’s stock after selling 7,238 shares during the period. Corebridge Financial Inc. owned about 0.05% of Blackstone Mortgage Trust worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mountain Hill Investment Partners Corp. acquired a new stake in Blackstone Mortgage Trust in the fourth quarter valued at approximately $56,000. Vanguard Group Inc. raised its holdings in shares of Blackstone Mortgage Trust by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,398,374 shares of the real estate investment trust’s stock valued at $320,316,000 after purchasing an additional 63,338 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $600,000. Sei Investments Co. grew its stake in shares of Blackstone Mortgage Trust by 22.1% during the fourth quarter. Sei Investments Co. now owns 62,095 shares of the real estate investment trust’s stock worth $1,081,000 after purchasing an additional 11,246 shares in the last quarter. Finally, Condor Capital Management increased its holdings in Blackstone Mortgage Trust by 61.9% in the fourth quarter. Condor Capital Management now owns 152,155 shares of the real estate investment trust’s stock valued at $2,649,000 after buying an additional 58,165 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Up 0.1 %

Shares of NYSE:BXMT opened at $19.92 on Thursday. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.53 and a fifty-two week high of $21.24. The firm’s 50-day simple moving average is $19.76 and its 200-day simple moving average is $18.96. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -17.03 and a beta of 1.52.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $1.26. Blackstone Mortgage Trust had a positive return on equity of 8.62% and a negative net margin of 11.54%. On average, research analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.65 EPS for the current year.

Blackstone Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 9.44%. The ex-dividend date of this dividend is Monday, March 31st. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is -160.68%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BXMT shares. UBS Group upped their price objective on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods upped their price target on Blackstone Mortgage Trust from $19.50 to $20.50 and gave the company a “market perform” rating in a report on Monday. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.83.

Insider Buying and Selling

In other news, CEO Katharine A. Keenan sold 2,323 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.70, for a total transaction of $48,086.10. Following the completion of the transaction, the chief executive officer now owns 248,487 shares of the company’s stock, valued at $5,143,680.90. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 5,652 shares of company stock valued at $116,971. Corporate insiders own 0.93% of the company’s stock.

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.