Adalta Capital Management LLC Sells 949 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Adalta Capital Management LLC cut its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,856 shares of the real estate investment trust’s stock after selling 949 shares during the period. Adalta Capital Management LLC’s holdings in Blackstone Mortgage Trust were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth approximately $35,662,000. Balyasny Asset Management L.P. increased its holdings in Blackstone Mortgage Trust by 39.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust’s stock worth $49,315,000 after buying an additional 801,083 shares during the last quarter. Blackstone Inc. increased its holdings in Blackstone Mortgage Trust by 8.2% during the fourth quarter. Blackstone Inc. now owns 8,601,492 shares of the real estate investment trust’s stock worth $149,752,000 after buying an additional 652,537 shares during the last quarter. Millennium Management LLC raised its position in Blackstone Mortgage Trust by 473.3% during the fourth quarter. Millennium Management LLC now owns 625,060 shares of the real estate investment trust’s stock worth $10,882,000 after acquiring an additional 516,023 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Blackstone Mortgage Trust in the fourth quarter valued at $8,118,000. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Shares of NYSE BXMT opened at $19.33 on Wednesday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -16.52 and a beta of 1.12. The stock’s fifty day moving average price is $19.17 and its two-hundred day moving average price is $18.93. Blackstone Mortgage Trust, Inc. has a one year low of $16.51 and a one year high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 9.73%. Blackstone Mortgage Trust’s dividend payout ratio is presently -408.70%.

Wall Street Analyst Weigh In

BXMT has been the topic of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. Keefe, Bruyette & Woods cut their price objective on Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating for the company in a research report on Monday, April 7th. UBS Group decreased their target price on Blackstone Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut their price target on Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.25.

Insider Activity

In related news, CEO Katharine A. Keenan sold 2,315 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $20.70, for a total value of $47,920.50. Following the completion of the transaction, the chief executive officer now owns 246,172 shares of the company’s stock, valued at $5,095,760.40. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry N. Nassau acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $18.90 per share, with a total value of $189,000.00. Following the transaction, the director now directly owns 182,946 shares of the company’s stock, valued at $3,457,679.40. This trade represents a 5.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,652 shares of company stock worth $116,971. Corporate insiders own 1.02% of the company’s stock.

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.