The Manufacturers Life Insurance Company significantly reduced its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 90.0% during the fourth quarter, according to its latest Form 13F filing with the Securities & Exchange Commission. The institutional investor held 222,785 shares of the real estate investment trust’s stock after selling 2,000,293 shares during the period. This transaction left The Manufacturers Life Insurance Company with approximately 0.13% of Blackstone Mortgage Trust worth $3,879,000 at the end of the quarter.
Other Institutional Investors Modify Holdings
Several other hedge funds and institutional investors have recently adjusted their holdings of Blackstone Mortgage Trust. True North Advisors LLC increased its stake by 2.4% during the 4th quarter, now owning 23,993 shares valued at $418,000. Sheaff Brock Investment Advisors LLC grew its holdings by 1.7%, now owning 38,237 shares worth $666,000. CIBC Asset Management Inc increased its position by 4.9%, holding 16,915 shares worth $294,000. IFP Advisors Inc boosted its stake by 9.1%, now owning 10,037 shares valued at $175,000. Summit Investment Advisors Inc. grew its holdings by 5.6%, now holding 18,165 shares worth $316,000.
Blackstone Mortgage Trust Stock Performance
Blackstone Mortgage Trust’s stock opened at $19.00 on Friday. The company has a market capitalization of $3.26 billion, with a P/E ratio of -16.24 and a beta of 1.12. The stock has fluctuated between a 52-week low of $16.51 and a high of $21.24. The firm’s 50-day simple moving average is $19.29, and its 200-day simple moving average is $18.88.
Recent Earnings and Dividend Announcement
Blackstone Mortgage Trust recently reported quarterly earnings on February 12th, with $0.39 earnings per share (EPS), surpassing analysts’ expectations. The company also announced a quarterly dividend of $0.47 per share, paid on April 15th, representing an annualized yield of 9.89%.
Insider Transactions
Director Henry N. Nassau purchased 10,000 shares at $18.90 per share on May 6th, increasing his stake by 5.78%. CEO Katharine A. Keenan sold 2,315 shares at $20.70 on March 17th, decreasing her ownership by 0.93%. Insiders have sold 5,652 shares valued at $116,971 in the last 90 days.
Analyst Ratings
Analysts have varied ratings on Blackstone Mortgage Trust. Keefe, Bruyette & Woods set a ‘market perform’ rating with a $20.00 target price. JPMorgan Chase & Co. and UBS Group maintained ‘neutral’ ratings with target prices of $18.50 and $18.00, respectively. JMP Securities reaffirmed a ‘market perform’ rating. The average analyst rating is ‘Hold’ with an average target price of $20.25.
