First Republic Investment Management Inc. Cuts Position in Blackstone Mortgage Trust Inc (BXMT)

First Republic Investment Management Inc. Cuts Position in Blackstone Mortgage Trust Inc (BXMT)

First Republic Investment Management Inc. decreased its holdings in Blackstone Mortgage Trust Inc (NYSE:BXMT) by 54.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 61,666 shares of the real estate investment trust’s stock after selling 72,871 shares during the quarter. First Republic Investment Management Inc.’s holdings in Blackstone Mortgage Trust were worth $2,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BXMT. Legal & General Group Plc raised its stake in shares of Blackstone Mortgage Trust by 9.6% during the third quarter. Legal & General Group Plc now owns 67,443 shares of the real estate investment trust’s stock valued at $2,260,000 after purchasing an additional 5,909 shares during the period. Vanguard Group Inc. raised its stake in shares of Blackstone Mortgage Trust by 11.5% during the third quarter. Vanguard Group Inc. now owns 11,080,478 shares of the real estate investment trust’s stock valued at $371,306,000 after purchasing an additional 1,142,710 shares during the period. Vanguard Group Inc raised its stake in shares of Blackstone Mortgage Trust by 11.5% during the third quarter. Vanguard Group Inc now owns 11,080,478 shares of the real estate investment trust’s stock valued at $371,306,000 after purchasing an additional 1,142,710 shares during the period. New England Research & Management Inc. raised its stake in shares of Blackstone Mortgage Trust by 3.1% during the fourth quarter. New England Research & Management Inc. now owns 21,300 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 650 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Blackstone Mortgage Trust by 3.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,788 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 367 shares during the period. Institutional investors own 60.82% of the company’s stock.

BXMT stock opened at $35.28 on Friday. Blackstone Mortgage Trust Inc has a twelve month low of $30.84 and a twelve month high of $35.98. The company has a market cap of $4.45 billion, a PE ratio of 13.31, a P/E/G ratio of 2.83 and a beta of 0.57.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. Blackstone Mortgage Trust had a net margin of 48.22% and a return on equity of 9.73%. The business had revenue of $106.07 million during the quarter, compared to the consensus estimate of $98.89 million. During the same quarter last year, the company earned $0.64 earnings per share. Research analysts expect that Blackstone Mortgage Trust Inc will post 2.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend was Thursday, March 28th. Blackstone Mortgage Trust’s payout ratio is currently 93.58%.

BXMT has been the topic of a number of analyst reports. Deutsche Bank lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating and dropped their price objective for the company from $35.00 to $34.50 in a research note on Wednesday, February 13th. Zacks Investment Research upgraded shares of Blackstone Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. JMP Securities reiterated a “hold” rating on shares of Blackstone Mortgage Trust in a research note on Sunday, February 17th. Finally, ValuEngine lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.63.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

Featured Story: Momentum Indicators

Want to see what other hedge funds are holding BXMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Mortgage Trust Inc (NYSE:BXMT).

Related posts

Leave a Comment