Envestnet Asset Management Inc. Buys 14,311 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Envestnet Asset Management Inc. grew its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 32.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 58,076 shares of the real estate investment trust’s stock after buying an additional 14,311 shares during the period. Envestnet Asset Management Inc.’s holdings in Blackstone Mortgage Trust were worth $1,162,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BXMT. Penserra Capital Management LLC raised its stake in shares of Blackstone Mortgage Trust by 20.9% in the first quarter. Penserra Capital Management LLC now owns 59,917 shares of the real estate investment trust’s stock valued at $1,198,000 after purchasing an additional 10,358 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Blackstone Mortgage Trust by 1.9% during the first quarter. Principal Financial Group Inc. now owns 854,617 shares of the real estate investment trust’s stock worth $17,092,000 after buying an additional 15,644 shares in the last quarter. MBM Wealth Consultants LLC increased its holdings in Blackstone Mortgage Trust by 23.3% in the 1st quarter. MBM Wealth Consultants LLC now owns 16,939 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,202 shares during the period. Teacher Retirement System of Texas bought a new stake in Blackstone Mortgage Trust in the 1st quarter valued at $481,000. Finally, Glassy Mountain Advisors Inc. raised its stake in shares of Blackstone Mortgage Trust by 1.8% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 57,149 shares of the real estate investment trust’s stock valued at $1,143,000 after buying an additional 998 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Anthony F. Marone, Jr. sold 1,517 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total transaction of $29,126.40. Following the transaction, the chief financial officer owned 64,082 shares of the company’s stock, valued at $1,230,374.40. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry N. Nassau purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $18.90 per share, for a total transaction of $189,000.00. Following the acquisition, the director owned 182,946 shares of the company’s stock, valued at $3,457,679.40. The trade was a 5.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 9,248 shares of company stock valued at $177,028. 1.02% of the stock is currently owned by corporate insiders.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $18.64 on Friday. The business’s fifty day moving average is $19.34 and its two-hundred day moving average is $19.26. The firm has a market cap of $3.20 billion, a P/E ratio of -266.29 and a beta of 1.12. Blackstone Mortgage Trust, Inc. has a 52 week low of $16.51 and a 52 week high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 annualized dividend and a yield of 10.1%. Blackstone Mortgage Trust’s dividend payout ratio is currently -408.70%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BXMT shares. UBS Group increased their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Blackstone Mortgage Trust Company 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.