Legal & General Group Plc Raises Holdings in Blackstone Mortgage Trust Inc (BXMT)

Posted by Max Byerly on Feb 7th, 2019 // No Comments

Legal & General Group Plc grew its stake in Blackstone Mortgage Trust Inc (NYSE:BXMT) by 9.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 67,443 shares of the real estate investment trust’s stock after purchasing an additional 5,909 shares during the period. Legal & General Group Plc’s holdings in Blackstone Mortgage Trust were worth $2,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Blackstone Mortgage Trust by 61.2% in the 2nd quarter. Northern Trust Corp now owns 560,223 shares of the real estate investment trust’s stock valued at $17,607,000 after purchasing an additional 212,593 shares during the period. Bank of Montreal Can raised its holdings in Blackstone Mortgage Trust by 136.9% in the 3rd quarter. Bank of Montreal Can now owns 134,367 shares of the real estate investment trust’s stock valued at $4,503,000 after acquiring an additional 77,641 shares during the period. Private Capital Advisors Inc. raised its holdings in Blackstone Mortgage Trust by 6.9% in the 3rd quarter. Private Capital Advisors Inc. now owns 171,339 shares of the real estate investment trust’s stock valued at $5,315,000 after acquiring an additional 11,051 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Blackstone Mortgage Trust by 95.7% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 16,151 shares of the real estate investment trust’s stock valued at $541,000 after acquiring an additional 7,900 shares during the period. Finally, Brave Asset Management Inc. raised its holdings in Blackstone Mortgage Trust by 7.4% in the 3rd quarter. Brave Asset Management Inc. now owns 105,717 shares of the real estate investment trust’s stock valued at $3,543,000 after acquiring an additional 7,326 shares during the period. Institutional investors and hedge funds own 63.78% of the company’s stock.

Shares of NYSE:BXMT opened at $34.62 on Thursday. Blackstone Mortgage Trust Inc has a 12-month low of $29.56 and a 12-month high of $35.70. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.75 and a beta of 0.58.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were given a dividend of $0.62 per share. The ex-dividend date was Friday, December 28th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.16%. Blackstone Mortgage Trust’s payout ratio is presently 107.36%.

BXMT has been the topic of several research analyst reports. Zacks Investment Research raised shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, November 30th. ValuEngine upgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Citigroup started coverage on shares of Blackstone Mortgage Trust in a research report on Friday, October 12th. They set a “neutral” rating and a $33.00 target price on the stock. TheStreet upgraded shares of Blackstone Mortgage Trust from a “c+” rating to a “b+” rating in a research report on Wednesday, October 31st. Finally, Deutsche Bank upgraded shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.25.

In related news, CFO Anthony F. Marone, Jr. sold 1,055 shares of the stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $34.83, for a total transaction of $36,745.65. Following the sale, the chief financial officer now owns 30,623 shares in the company, valued at approximately $1,066,599.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Douglas N. Armer sold 3,211 shares of the stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $34.87, for a total transaction of $111,967.57. Following the sale, the treasurer now owns 76,270 shares in the company, valued at approximately $2,659,534.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,924 shares of company stock worth $206,584. Company insiders own 0.96% of the company’s stock.

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Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.