ProShare Advisors LLC Reduces Stock Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

ProShare Advisors LLC lowered its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,564 shares of the real estate investment trust’s stock after selling 8,196 shares during the period. ProShare Advisors LLC’s holdings in Blackstone Mortgage Trust were worth $463,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BXMT. Versant Capital Management Inc increased its holdings in shares of Blackstone Mortgage Trust by 66.4% in the second quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 871 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Blackstone Mortgage Trust by 14.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,465 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 1,039 shares during the period. Arizona State Retirement System increased its holdings in shares of Blackstone Mortgage Trust by 2.7% in the second quarter. Arizona State Retirement System now owns 46,190 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 1,206 shares during the period. Park Place Capital Corp bought a new position in shares of Blackstone Mortgage Trust in the second quarter worth $26,000. Finally, Institute for Wealth Management LLC. increased its holdings in shares of Blackstone Mortgage Trust by 2.4% in the second quarter. Institute for Wealth Management LLC. now owns 67,634 shares of the real estate investment trust’s stock worth $1,178,000 after purchasing an additional 1,586 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Trading Down 3.3 %

Shares of NYSE:BXMT opened at $18.39 on Wednesday. The stock’s 50-day moving average price is $18.30 and its 200-day moving average price is $18.33. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.53 and a 12-month high of $23.29. The stock has a market capitalization of $3.19 billion, a P/E ratio of 613.00 and a beta of 1.49.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 firm had revenue of $466.15 million for the quarter, compared to analysts’ expectations of $131.87 million. During the same period last year, the firm earned $0.75 earnings per share. As a group, research analysts predict that Blackstone Mortgage Trust, Inc. will post 1.94 EPS for the current year.

Blackstone Mortgage Trust announced that its Board of Directors has approved a stock buyback program on Wednesday, July 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Blackstone Mortgage Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.22%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is currently 6,266.67%.

Insider Transactions at Blackstone Mortgage Trust

In other news, Director Henry N. Nassau bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $17.52 per share, for a total transaction of $175,200.00. Following the completion of the acquisition, the director now owns 165,557 shares in the company, valued at approximately $2,900,558.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Timothy Steven Johnson bought 57,050 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $17.50 per share, for a total transaction of $998,375.00. Following the completion of the acquisition, the director now owns 423,251 shares in the company, valued at approximately $7,406,892.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry N. Nassau bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $17.52 per share, with a total value of $175,200.00. Following the completion of the acquisition, the director now owns 165,557 shares of the company’s stock, valued at approximately $2,900,558.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 83,050 shares of company stock worth $1,448,135 and sold 1,495 shares worth $27,899. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Wells Fargo & Company increased their target price on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. BTIG Research reissued a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Wolfe Research assumed coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $18.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.08.

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.