Parallel Advisors LLC Acquires 23,006 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Parallel Advisors LLC increased its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 360.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,391 shares of the real estate investment trust’s stock after purchasing an additional 23,006 shares during the period. Parallel Advisors LLC’s holdings in Blackstone Mortgage Trust were worth $512,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Brown Advisory Inc. increased its position in Blackstone Mortgage Trust by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 11,136 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 727 shares during the last quarter. Versant Capital Management Inc increased its position in 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 last quarter. Newbridge Financial Services Group Inc. increased its position in 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 last quarter. Vanguard Personalized Indexing Management LLC increased its position in Blackstone Mortgage Trust by 3.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 31,667 shares of the real estate investment trust’s stock worth $674,000 after purchasing an additional 1,113 shares during the last quarter. Finally, Arizona State Retirement System increased its position 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 worth $805,000 after purchasing an additional 1,206 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Wall Street Analyst Weigh In

BXMT has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They set a “peer perform” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 price objective on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 18th. BTIG Research reiterated a “buy” rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. Finally, Wells Fargo & Company cut their price objective on shares of Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Seven equities research 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 has a consensus rating of “Hold” and a consensus price target of $19.58.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan bought 16,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $17.16 per share, for a total transaction of $274,560.00. Following the acquisition, the chief executive officer now directly owns 198,960 shares in the company, valued at $3,414,153.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan bought 16,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $17.16 per share, for a total transaction of $274,560.00. Following the acquisition, the chief executive officer now directly owns 198,960 shares in the company, valued at $3,414,153.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy Steven Johnson bought 57,050 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price 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 $7,406,892.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 83,050 shares of company stock worth $1,448,135 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Blackstone Mortgage Trust Trading Up 0.6 %

NYSE BXMT opened at $19.45 on Wednesday. The company’s 50-day moving average price is $18.23 and its 200-day moving average price is $18.36. The stock has a market cap of $3.38 billion, a PE ratio of 648.33 and a beta of 1.49. Blackstone Mortgage Trust, Inc. has a 12 month low of $16.53 and a 12 month high of $23.54.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $466.15 million for the quarter, compared to analysts’ expectations of $131.87 million. Blackstone Mortgage Trust had a negative net margin of 7.98% and a positive return on equity of 10.16%. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, sell-side analysts forecast that Blackstone Mortgage Trust, Inc. will post 1.94 earnings per share for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.67%. The ex-dividend date of this dividend is Monday, September 30th. Blackstone Mortgage Trust’s payout ratio is presently 6,266.67%.

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.