GraniteShares Advisors LLC Buys 212,518 Shares of Blackstone Mortgage Trust, Inc. $BXMT

GraniteShares Advisors LLC bought a new position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 212,518 shares of the real estate investment trust’s stock, valued at approximately $2,433,000.

A number of other institutional investors and hedge funds have also modified their holdings of BXMT. Central Pacific Bank Trust Division raised its stake in shares of Blackstone Mortgage Trust by 50.0% in the third quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Whipplewood Advisors LLC boosted its position in shares of Blackstone Mortgage Trust by 6.0% during the first quarter. Whipplewood Advisors LLC now owns 20,551 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 1,158 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Blackstone Mortgage Trust by 3.5% during the second quarter. Sequoia Financial Advisors LLC now owns 46,722 shares of the real estate investment trust’s stock valued at $792,000 after buying an additional 1,579 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Blackstone Mortgage Trust by 5.6% during the second quarter. Tidal Investments LLC now owns 29,607 shares of the real estate investment trust’s stock valued at $502,000 after buying an additional 1,583 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its position in shares of Blackstone Mortgage Trust by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 14,874 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 1,833 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $11.28 on Tuesday. The company has a market cap of $1.90 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.24 and a beta of 0.92. The firm’s fifty day moving average is $12.18 and its two-hundred day moving average is $16.67. Blackstone Mortgage Trust, Inc. has a 52-week low of $10.11 and a 52-week high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.24 by $0.14. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. The business had revenue of $141.90 million for the quarter, compared to analysts’ expectations of $148.60 million. As a group, analysts forecast that Blackstone Mortgage Trust, Inc. will post 0.91 EPS for the current fiscal year.

Blackstone Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 10.6%. This is a negative change from Blackstone Mortgage Trust’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, December 31st. Blackstone Mortgage Trust’s payout ratio is presently -84.30%.

Analysts Set New Price Targets

Several research firms recently commented on BXMT. Wall Street Zen downgraded Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Wells Fargo & Company lowered their target price on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackstone Mortgage Trust in a report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, Citigroup reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Blackstone Mortgage Trust has a consensus rating of “Hold” and an average price target of $18.40.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.