JPMorgan Chase & Co. Has $10.65 Million Stake in Blackstone Mortgage Trust, Inc. $BXMT

JPMorgan Chase & Co. raised its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 36.7% in the third quarter, Holdings Channel reports. The fund owned 578,444 shares of the real estate investment trust’s stock after purchasing an additional 155,421 shares during the quarter. JPMorgan Chase & Co.’s holdings in Blackstone Mortgage Trust were worth $10,649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Blackstone Mortgage Trust by 45.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 536 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Blackstone Mortgage Trust by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 570,233 shares of the real estate investment trust’s stock worth $11,405,000 after buying an additional 37,838 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Blackstone Mortgage Trust by 5.0% in the 1st quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust’s stock valued at $1,474,000 after acquiring an additional 3,478 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Blackstone Mortgage Trust by 52.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 36,556 shares of the real estate investment trust’s stock valued at $704,000 after acquiring an additional 12,525 shares during the last quarter. Finally, Claro Advisors LLC boosted its holdings in shares of Blackstone Mortgage Trust by 7.1% during the 2nd quarter. Claro Advisors LLC now owns 38,300 shares of the real estate investment trust’s stock valued at $737,000 after acquiring an additional 2,550 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BXMT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on Blackstone Mortgage Trust from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. BTIG Research reiterated a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.13.

Blackstone Mortgage Trust Price Performance

Shares of BXMT opened at $19.45 on Friday. The business has a 50-day moving average of $19.45 and a 200-day moving average of $19.19. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 29.92 and a beta of 1.06. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.51 and a 1 year high of $21.24.

Blackstone Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.47 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.7%. Blackstone Mortgage Trust’s payout ratio is 289.23%.

Insider Activity at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 3,131 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $19.24, for a total transaction of $60,240.44. Following the completion of the sale, the president directly owned 78,633 shares in the company, valued at $1,512,898.92. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 4,543 shares of company stock valued at $88,910. Corporate insiders own 1.02% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.