Thrivent Financial for Lutherans Lowers Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Thrivent Financial for Lutherans cut its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 133,712 shares of the real estate investment trust’s stock after selling 2,630 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Blackstone Mortgage Trust were worth $2,328,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BXMT. True North Advisors LLC increased its position in shares of Blackstone Mortgage Trust by 2.4% during the 4th quarter. True North Advisors LLC now owns 23,993 shares of the real estate investment trust’s stock valued at $418,000 after purchasing an additional 558 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Blackstone Mortgage Trust by 1.7% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 38,237 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 624 shares in the last quarter. CIBC Asset Management Inc grew its position in Blackstone Mortgage Trust by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 16,915 shares of the real estate investment trust’s stock valued at $294,000 after acquiring an additional 785 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Blackstone Mortgage Trust by 9.1% during the fourth quarter. IFP Advisors Inc now owns 10,037 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 841 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Blackstone Mortgage Trust by 7.6% in the 4th quarter. Principal Securities Inc. now owns 14,224 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 1,007 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,323 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $20.70, for a total value of $48,086.10. Following the completion of the transaction, the chief executive officer now owns 248,487 shares in the company, valued at $5,143,680.90. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 5,652 shares of company stock valued at $116,971. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BXMT. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. UBS Group lifted their price objective on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Wolfe Research raised Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target on Blackstone Mortgage Trust from $17.50 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.67.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT opened at $20.28 on Friday. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.53 and a 1 year high of $21.24. The stock’s 50-day moving average is $19.62 and its 200 day moving average is $18.92. The company has a market cap of $3.48 billion, a PE ratio of -17.33 and a beta of 1.52.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $1.26. Blackstone Mortgage Trust had a positive return on equity of 8.62% and a negative net margin of 11.54%. Analysts expect that Blackstone Mortgage Trust, Inc. will post 1.65 EPS for the current fiscal year.

Blackstone Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.47 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 9.27%. Blackstone Mortgage Trust’s dividend payout ratio is -160.68%.

About Blackstone Mortgage Trust

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.