As of June 12, 2023, &Gamco Investors INC. ET AL has acquired a new position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) according to its most recent 13F filing with the Securities and Exchange Commission. The company purchased 10,000 shares of the real estate investment trust’s stock for roughly $212,000.
This move comes following the company’s declaration of its quarterly dividend on Friday, April 14th. Stockholders of record on March 31st were granted a dividend of $0.62 per share totaling at $2.48 annually representing a dividend yield of approximately 12.75%. Interestingly, BXMT’s payout ratio is currently at an alarmingly high rate of 163.16%.
Moreover, Director Henry N. Nassau bought another 10,000 shares in the company at an average cost of $17.81 on Wednesday, March 15th which gives him direct ownership over a total of 127,348 shares valued at around $2,268,067.88 as disclosed in a legal filing made accessible through this link.
Adding further to insider trades within the company is Director Michael B. Nash as he acquires an impressive amount of Blackstone Mortgage Trust’s shares-50k to be precise-in a transaction worth $861K and done so on May 10th at an average cost per share at $17.22 and now holds a direct ownership over half-million-plus shares that amounts to $8,927,795 as per recent stock valuations.
Meanwhile it seems there has been insider selling activity too with insiders having reportedly sold about 9,880 worth of company stock which totals about $186K- all having taken place within the last three months-alone.
It remains undetermined whether or not these changes might hold any weight on investors’ decisions or profits in stocks later down the line but what we can say is that major activity, such as this, within the sphere of a public corporation is certainly something worth observing.
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Institutional Holdings and Analyst Reports: An Overview of Blackstone Mortgage Trust’s Current State
Blackstone Mortgage Trust: An In-Depth Overview of Institutional Holdings and Analyst Reports
As of the third quarter last year, Vanguard Group Inc., one of the largest asset management companies in the world, lifted its position in Blackstone Mortgage Trust’s shares by 1.1%. State Street Corp, Geode Capital Management LLC, LDR Capital Management LLC and Charles Schwab Investment Management Inc. also increased their holdings in the real estate investment trust. These institutional investors now own over half (54.01%) of BXMT’s stock.
The increase in institutional holdings is not surprising given recent analyst reports on BXMT. BTIG Research, for instance, initiated their coverage of this company by giving it a “buy” rating and setting a price objective of $19.00 per share. StockNews.com followed this with their own coverage where they gave a “hold” rating to the stock.
However, Keefe, Bruyette & Woods reduced their price objective from $25.00 to $18.00 and maintained a “market perform” rating on BXMT’s shares while Citigroup dropped their target price from $24.00 to $17.00 and set a “neutral” rating for the company. JPMorgan Chase & Co., another prominent financial institution, also lowered their target price from $23.00 to $18.00 in response to varying market conditions.
Overall, there are four hold ratings and one buy rating on BXMT’s stock according to Bloomberg.com’s data as well as a consensus target price of $19.80 per share.
Shares of NYSE BXMT traded at around $19 per share on June 12th with an average trading volume of 2,685,643 shares but had only 1,063,125 shares traded that day alone which could be seen as irregular for some traders who monitor this company’s value regularly.
BXMT has a market cap of $3.35 billion, a price-to-earnings ratio of 12.90 and a beta of 1.33. The stock’s fifty-day moving average is relatively low at $17.89, but the two-hundred day moving average value is higher at $20.52 per share.
In summary, Blackstone Mortgage Trust’s institutional holdings and analyst coverage suggest a mix of positive and negative sentiment towards the company as of June 12th, 2023. While some investors have increased their shares in this company, others have expressed caution amid market volatility. This should be noted by anyone monitoring BXMT’s current state or considering investing in it in the future.