Principal Financial Group Inc. Has $15.56 Million Stock Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Principal Financial Group Inc. reduced its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 818,486 shares of the real estate investment trust’s stock after selling 37,772 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Blackstone Mortgage Trust worth $15,559,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Raymond James & Associates grew its stake in Blackstone Mortgage Trust by 9.7% in the second quarter. Raymond James & Associates now owns 74,341 shares of the real estate investment trust’s stock valued at $1,295,000 after purchasing an additional 6,558 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Blackstone Mortgage Trust in the second quarter valued at $215,000. Van ECK Associates Corp increased its holdings in Blackstone Mortgage Trust by 21.7% during the second quarter. Van ECK Associates Corp now owns 785,499 shares of the real estate investment trust’s stock worth $13,683,000 after buying an additional 140,102 shares during the last quarter. Childress Capital Advisors LLC raised its position in Blackstone Mortgage Trust by 360.6% during the second quarter. Childress Capital Advisors LLC now owns 65,397 shares of the real estate investment trust’s stock worth $1,139,000 after acquiring an additional 51,200 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in 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 valued at $805,000 after acquiring an additional 1,206 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Down 1.2 %

Blackstone Mortgage Trust stock opened at $17.91 on Friday. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.53 and a twelve month high of $22.16. The company’s 50-day moving average price is $18.62 and its two-hundred day moving average price is $18.37. The stock has a market cap of $3.10 billion, a P/E ratio of -12.88 and a beta of 1.50.

Blackstone Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 10.50%. The ex-dividend date is Tuesday, December 31st. Blackstone Mortgage Trust’s payout ratio is -135.25%.

Wall Street Analysts Forecast Growth

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

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.