Van ECK Associates Corp Acquires 62,182 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Van ECK Associates Corp increased its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 645,397 shares of the real estate investment trust’s stock after purchasing an additional 62,182 shares during the quarter. Van ECK Associates Corp owned 0.37% of Blackstone Mortgage Trust worth $12,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BXMT. Central Bank & Trust Co. bought a new position in shares of Blackstone Mortgage Trust during the fourth quarter valued at $25,000. Cape Investment Advisory Inc. bought a new position in shares of Blackstone Mortgage Trust during the fourth quarter valued at $42,000. GAMMA Investing LLC bought a new position in shares of Blackstone Mortgage Trust during the fourth quarter valued at $45,000. Creekmur Asset Management LLC bought a new position in shares of Blackstone Mortgage Trust during the fourth quarter valued at $51,000. Finally, Sandy Spring Bank lifted its holdings in shares of Blackstone Mortgage Trust by 10,652.0% during the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 2,663 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BXMT shares. BTIG Research lowered their target price on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company lowered their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $18.00 target price on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. UBS Group lowered their target price 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. Finally, Wolfe Research began coverage on Blackstone Mortgage Trust in a report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $19.93.

Insider Buying and Selling

In related news, CEO Katharine A. Keenan sold 4,508 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the completion of the sale, the chief executive officer now owns 182,960 shares in the company, valued at $3,207,288.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Katharine A. Keenan sold 2,296 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $3,194,454.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katharine A. Keenan sold 4,508 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,057 shares of company stock worth $191,141. 0.93% of the stock is owned by corporate insiders.

Blackstone Mortgage Trust Stock Down 0.4 %

BXMT traded down $0.07 during midday trading on Friday, reaching $17.21. The company had a trading volume of 859,737 shares, compared to its average volume of 2,062,361. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.70 and a 1 year high of $23.82. The business has a 50-day moving average of $17.68 and a two-hundred day moving average of $19.28. The company has a market cap of $2.99 billion, a P/E ratio of 574.33 and a beta of 1.49.

Blackstone Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 14.41%. The ex-dividend date of this dividend is Friday, June 28th. Blackstone Mortgage Trust’s dividend payout ratio is currently 8,266.67%.

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.