Norges Bank Purchases New Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

May 31, 2024

3 minutes read

Norges Bank acquired a new position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,821,683 shares of the real estate investment trust’s stock, valued at approximately $38,747,000. Norges Bank owned 1.06% of Blackstone Mortgage Trust at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BXMT. Central Bank & Trust Co. purchased a new position in Blackstone Mortgage Trust during the 4th quarter worth approximately $25,000. GAMMA Investing LLC bought a new position in Blackstone Mortgage Trust during the fourth quarter valued at about $45,000. Sandy Spring Bank raised its holdings in shares of Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 2,663 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Blackstone Mortgage Trust by 4,986.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,613 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 6,483 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at approximately $145,000. Institutional investors own 64.15% of the company’s stock.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is owned by corporate insiders.

Blackstone Mortgage Trust Stock Performance

NYSE BXMT opened at $17.10 on Friday. The firm’s fifty day moving average is $18.46 and its two-hundred day moving average is $20.07. The firm has a market cap of $2.97 billion, a PE ratio of 570.00 and a beta of 1.44. Blackstone Mortgage Trust, Inc. has a one year low of $16.73 and a one year high of $23.82.

Blackstone Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 14.50%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is 8,266.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on BXMT. JPMorgan Chase & Co. lowered their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. UBS Group dropped their price objective on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. BTIG Research cut their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust presently has an average rating of “Hold” and an average price target of $19.93.

Get Our Latest Stock Report on Blackstone Mortgage Trust

Blackstone Mortgage Trust Company Profile

(Free Report)

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.