Geode Capital Management LLC Sells 11,242 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Geode Capital Management LLC trimmed its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 4,028,292 shares of the real estate investment trust’s stock after selling 11,242 shares during the quarter. Geode Capital Management LLC’s holdings in Blackstone Mortgage Trust were worth $76,593,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BXMT. Harbor Capital Advisors Inc. bought a new position in shares of Blackstone Mortgage Trust in the third quarter valued at approximately $39,000. Wellington Shields & Co. LLC raised its holdings in Blackstone Mortgage Trust by 98.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 4,555 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 2,255 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Blackstone Mortgage Trust during the 2nd quarter worth $87,000. Future Financial Wealth Managment LLC bought a new stake in Blackstone Mortgage Trust during the third quarter valued at about $95,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Blackstone Mortgage Trust in the third quarter valued at about $196,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BXMT. Wolfe Research raised Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Wednesday, December 11th. Wells Fargo & Company upped their price target on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.07.

Blackstone Mortgage Trust Stock Up 2.4 %

Shares of BXMT opened at $18.15 on Friday. The stock’s 50-day moving average price is $18.66 and its 200 day moving average price is $18.34. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -13.06 and a beta of 1.50. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.53 and a 12-month high of $23.10.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.36%. The ex-dividend date of this dividend is Tuesday, December 31st. Blackstone Mortgage Trust’s dividend payout ratio is presently -135.25%.

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.