Bright Futures Wealth Management LLC. Increases Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Bright Futures Wealth Management LLC. lifted its position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 12.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 159,022 shares of the real estate investment trust’s stock after acquiring an additional 18,219 shares during the period. Blackstone Mortgage Trust accounts for 1.3% of Bright Futures Wealth Management LLC.’s investment portfolio, making the stock its 11th biggest holding. Bright Futures Wealth Management LLC.’s holdings in Blackstone Mortgage Trust were worth $2,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at about $38,747,000. Blackstone Inc. lifted its holdings in shares of Blackstone Mortgage Trust by 9.5% during the fourth quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust’s stock worth $169,074,000 after purchasing an additional 686,881 shares during the period. Goldman Sachs Group Inc. boosted its position in Blackstone Mortgage Trust by 82.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,169,503 shares of the real estate investment trust’s stock valued at $24,875,000 after buying an additional 528,950 shares during the last quarter. Choreo LLC acquired a new stake in Blackstone Mortgage Trust during the 2nd quarter valued at approximately $6,983,000. Finally, Premier Fund Managers Ltd acquired a new stake in Blackstone Mortgage Trust during the 4th quarter worth about $6,355,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Wolfe Research initiated coverage on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 25th. They issued a “peer perform” rating for the company. BTIG Research restated a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. Finally, JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. Seven 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 company currently has an average rating of “Hold” and a consensus target price of $19.58.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,508 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction of $79,025.24. Following the completion of the transaction, the chief executive officer now owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,508 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the transaction, the chief executive officer now directly owns 182,960 shares in the company, valued at $3,207,288.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Katharine A. Keenan acquired 16,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $17.16 per share, with a total value of $274,560.00. Following the completion of the purchase, the chief executive officer now directly owns 198,960 shares of the company’s stock, valued at approximately $3,414,153.60. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 83,050 shares of company stock worth $1,448,135 and sold 6,502 shares worth $114,741. 0.93% of the stock is currently owned by company insiders.

Blackstone Mortgage Trust Price Performance

BXMT stock opened at $18.22 on Tuesday. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.53 and a 1 year high of $23.67. The firm has a market capitalization of $3.16 billion, a PE ratio of 607.33 and a beta of 1.49. The business has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $18.40.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. Blackstone Mortgage Trust had a negative net margin of 7.98% and a positive return on equity of 10.16%. The firm had revenue of $466.15 million for the quarter, compared to analysts’ expectations of $131.87 million. During the same quarter in the previous year, the company posted $0.75 EPS. On average, equities research analysts expect that Blackstone Mortgage Trust, Inc. will post 1.94 EPS for the current year.

Blackstone Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date is Monday, September 30th. Blackstone Mortgage Trust’s dividend payout ratio is presently 8,266.67%.

Blackstone Mortgage Trust 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.