Prevail Innovative Wealth Advisors LLC Acquires New Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Prevail Innovative Wealth Advisors LLC acquired a new stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 175,733 shares of the real estate investment trust’s stock, valued at approximately $3,061,000. Blackstone Mortgage Trust makes up about 1.1% of Prevail Innovative Wealth Advisors LLC’s investment portfolio, making the stock its 24th largest position. Prevail Innovative Wealth Advisors LLC owned 0.10% of Blackstone Mortgage Trust at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BXMT. Blackstone Inc. increased its holdings in shares of Blackstone Mortgage Trust by 9.5% in the fourth quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust’s stock valued at $169,074,000 after purchasing an additional 686,881 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Blackstone Mortgage Trust by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,531,729 shares of the real estate investment trust’s stock worth $53,850,000 after acquiring an additional 106,670 shares during the last quarter. Norges Bank acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter worth $38,747,000. Goldman Sachs Group Inc. raised its holdings in shares of Blackstone Mortgage Trust by 82.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,169,503 shares of the real estate investment trust’s stock worth $24,875,000 after acquiring an additional 528,950 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Blackstone Mortgage Trust by 21.7% during the 2nd quarter. Van ECK Associates Corp now owns 785,499 shares of the real estate investment trust’s stock valued at $13,683,000 after acquiring an additional 140,102 shares during the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BXMT. Wolfe Research began coverage on Blackstone Mortgage Trust in a research report on Tuesday, June 25th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. BTIG Research reissued a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $19.58.

Insider Buying and Selling

In other news, CEO Katharine A. Keenan sold 4,508 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the transaction, the chief executive officer now owns 182,960 shares in the company, valued at approximately $3,207,288.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan purchased 16,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $17.16 per share, for a total transaction of $274,560.00. Following the completion of the purchase, the chief executive officer now directly owns 198,960 shares in the company, valued at $3,414,153.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Katharine A. Keenan sold 4,508 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the transaction, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The disclosure for this sale can be found here. In the last three months, insiders purchased 83,050 shares of company stock valued at $1,448,135 and sold 6,502 shares valued at $114,741. 0.93% of the stock is currently owned by insiders.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT opened at $18.81 on Friday. The stock has a market capitalization of $3.27 billion, a PE ratio of 627.00 and a beta of 1.49. The company’s 50-day simple moving average is $18.14 and its 200-day simple moving average is $18.39. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.53 and a 1 year high of $23.67.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $466.15 million for the quarter, compared to analyst estimates of $131.87 million. Blackstone Mortgage Trust had a negative net margin of 7.98% and a positive return on equity of 10.16%. During the same period in the prior year, the business earned $0.75 EPS. On average, sell-side analysts predict that Blackstone Mortgage Trust, Inc. will post 1.94 earnings per share for the current year.

Blackstone Mortgage Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 9.99%. Blackstone Mortgage Trust’s dividend payout ratio (DPR) is presently 8,266.67%.

Blackstone Mortgage Trust Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.