Griffin Asset Management Inc. Invests $1.16 Million in Blackstone Mortgage Trust Inc (BXMT) Stock

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Griffin Asset Management Inc. bought a new position in shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) during the third quarter, Holdings Channel reports. The institutional investor bought 34,663 shares of the real estate investment trust’s stock, valued at approximately $1,162,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BXMT. MML Investors Services LLC increased its holdings in shares of Blackstone Mortgage Trust by 22.5% in the third quarter. MML Investors Services LLC now owns 7,921 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 1,456 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Blackstone Mortgage Trust by 0.8% in the second quarter. Chartwell Investment Partners LLC now owns 257,470 shares of the real estate investment trust’s stock valued at $8,093,000 after purchasing an additional 1,985 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in shares of Blackstone Mortgage Trust by 22.9% in the third quarter. Pinnacle Financial Partners Inc. now owns 12,016 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 2,240 shares during the last quarter. Round Table Services LLC increased its holdings in shares of Blackstone Mortgage Trust by 35.0% in the third quarter. Round Table Services LLC now owns 9,500 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 2,465 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Blackstone Mortgage Trust by 15.3% in the third quarter. United Services Automobile Association now owns 18,813 shares of the real estate investment trust’s stock valued at $630,000 after purchasing an additional 2,499 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Several research firms have commented on BXMT. Zacks Investment Research downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. BTIG Research began coverage on shares of Blackstone Mortgage Trust in a report on Monday, October 8th. They issued a “neutral” rating on the stock. Credit Suisse Group upped their price objective on shares of Blackstone Mortgage Trust from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Finally, TheStreet upgraded shares of Blackstone Mortgage Trust from a “c+” rating to a “b+” rating in a report on Wednesday, October 31st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.00.

In other news, Treasurer Douglas N. Armer sold 806 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $34.93, for a total value of $28,153.58. Following the completion of the sale, the treasurer now owns 79,481 shares of the company’s stock, valued at $2,776,271.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leonard W. Cotton bought 3,000 shares of Blackstone Mortgage Trust stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average cost of $33.87 per share, with a total value of $101,610.00. Following the transaction, the director now owns 19,074 shares of the company’s stock, valued at approximately $646,036.38. The disclosure for this purchase can be found here. In the last three months, insiders sold 7,211 shares of company stock valued at $251,423. 0.96% of the stock is currently owned by company insiders.

Shares of Blackstone Mortgage Trust stock opened at $33.83 on Wednesday. The stock has a market capitalization of $4.04 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 2.53 and a beta of 0.45. Blackstone Mortgage Trust Inc has a 52-week low of $29.51 and a 52-week high of $35.70.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. The company had revenue of $105.15 million during the quarter, compared to analysts’ expectations of $97.06 million. Blackstone Mortgage Trust had a net margin of 50.60% and a return on equity of 9.36%. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, sell-side analysts forecast that Blackstone Mortgage Trust Inc will post 2.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.33%. Blackstone Mortgage Trust’s payout ratio is presently 107.36%.

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About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. 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.

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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).

Institutional Ownership by Quarter for Blackstone Mortgage Trust (NYSE:BXMT)

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