Institute for Wealth Management LLC. Sells 10,000 Shares of Blackstone Mortgage Trust, Inc. $BXMT

Institute for Wealth Management LLC. decreased its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 21.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,765 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. Institute for Wealth Management LLC.’s holdings in Blackstone Mortgage Trust were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at about $29,000. Jones Financial Companies Lllp boosted its stake in Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 536 shares in the last quarter. Rossby Financial LCC bought a new position in Blackstone Mortgage Trust during the first quarter valued at approximately $49,000. GAMMA Investing LLC grew its position in Blackstone Mortgage Trust by 187.8% during the first quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 1,944 shares during the last quarter. Finally, Wellington Shields & Co. LLC raised its stake in shares of Blackstone Mortgage Trust by 39.8% during the first quarter. Wellington Shields & Co. LLC now owns 4,410 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 1,255 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Up 1.1%

Shares of Blackstone Mortgage Trust stock opened at $18.62 on Thursday. The company’s fifty day simple moving average is $19.17 and its two-hundred day simple moving average is $19.21. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.51 and a 12-month high of $21.24. The firm has a market cap of $3.19 billion, a PE ratio of -265.93 and a beta of 1.15.

Blackstone Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.88 annualized dividend and a yield of 10.1%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is -2,685.71%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Thursday, July 31st. UBS Group raised their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.50.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 4,593 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $19.49, for a total transaction of $89,517.57. Following the transaction, the chief executive officer directly owned 230,006 shares of the company’s stock, valued at approximately $4,482,816.94. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 8,818 shares of company stock valued at $171,190. 1.02% of the stock is currently owned by company insiders.

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.