Institute for Wealth Management LLC. Grows Stock Holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Institute for Wealth Management LLC. grew its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 64,577 shares of the real estate investment trust’s stock after purchasing an additional 3,291 shares during the period. Institute for Wealth Management LLC.’s holdings in Blackstone Mortgage Trust were worth $1,374,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Blackstone Mortgage Trust by 11.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,516 shares of the real estate investment trust’s stock valued at $713,000 after purchasing an additional 3,335 shares during the last quarter. Bison Wealth LLC purchased a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $207,000. Glassy Mountain Advisors Inc. raised its holdings in Blackstone Mortgage Trust by 1.9% in the 4th quarter. Glassy Mountain Advisors Inc. now owns 56,640 shares of the real estate investment trust’s stock worth $1,205,000 after acquiring an additional 1,050 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $1,833,000. Finally, Ellis Investment Partners LLC raised its holdings in Blackstone Mortgage Trust by 2.6% in the 4th quarter. Ellis Investment Partners LLC now owns 122,320 shares of the real estate investment trust’s stock worth $2,602,000 after acquiring an additional 3,054 shares during the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Bank of America lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $21.00 in a report on Monday, March 4th. UBS Group decreased their target price on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods decreased their target price on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Finally, BTIG Research decreased their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average target price of $20.83.

Blackstone Mortgage Trust Stock Up 0.9 %

BXMT traded up $0.16 during mid-day trading on Friday, reaching $18.49. 1,046,920 shares of the company traded hands, compared to its average volume of 2,099,008. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.83 and a 52-week high of $23.82. The company’s fifty day moving average price is $19.57 and its 200-day moving average price is $20.68. The stock has a market capitalization of $3.21 billion, a P/E ratio of 13.12 and a beta of 1.42.

Blackstone Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.41%. The ex-dividend date of this dividend was Wednesday, March 27th. Blackstone Mortgage Trust’s payout ratio is 175.89%.

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the transaction, the chief executive officer now owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock valued at $112,642 in the last 90 days. Company insiders own 1.02% of the company’s stock.

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.