Pekin Hardy Strauss Inc. boosted its stake in Blackstone Mortgage Trust Inc (NYSE:BXMT) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,732 shares of the real estate investment trust’s stock after buying an additional 39,872 shares during the period. Blackstone Mortgage Trust accounts for approximately 1.1% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 28th largest holding. Pekin Hardy Strauss Inc.’s holdings in Blackstone Mortgage Trust were worth $5,185,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of BXMT. Capital Advisors Inc. OK increased its position in Blackstone Mortgage Trust by 323.3% in the second quarter. Capital Advisors Inc. OK now owns 280,840 shares of the real estate investment trust’s stock worth $9,992,000 after buying an additional 214,489 shares during the period. Northeast Financial Consultants Inc increased its position in Blackstone Mortgage Trust by 29.0% in the second quarter. Northeast Financial Consultants Inc now owns 673,826 shares of the real estate investment trust’s stock worth $23,975,000 after buying an additional 151,452 shares during the period. Orinda Asset Management LLC increased its position in Blackstone Mortgage Trust by 300.0% in the second quarter. Orinda Asset Management LLC now owns 200,000 shares of the real estate investment trust’s stock worth $7,116,000 after buying an additional 150,000 shares during the period. Geode Capital Management LLC increased its position in Blackstone Mortgage Trust by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 1,625,430 shares of the real estate investment trust’s stock worth $51,976,000 after buying an additional 103,508 shares during the period. Finally, Monashee Investment Management LLC acquired a new stake in Blackstone Mortgage Trust in the second quarter worth $3,558,000. 56.30% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Anthony F. Marone, Jr. sold 749 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.42, for a total transaction of $26,529.58. Following the completion of the transaction, the chief financial officer now owns 28,659 shares of the company’s stock, valued at $1,015,101.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas N. Armer sold 915 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.36, for a total value of $32,354.40. Following the transaction, the executive vice president now directly owns 71,637 shares of the company’s stock, valued at approximately $2,533,084.32. The disclosure for this sale can be found here. In the last three months, insiders sold 2,898 shares of company stock valued at $103,529. Company insiders own 0.95% of the company’s stock.
Shares of NYSE:BXMT traded up $0.17 on Friday, hitting $35.41. The company’s stock had a trading volume of 20,747 shares, compared to its average volume of 739,936. Blackstone Mortgage Trust Inc has a 12 month low of $30.84 and a 12 month high of $36.77. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. The stock’s 50-day moving average is $35.21 and its two-hundred day moving average is $35.26.
Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. Blackstone Mortgage Trust had a return on equity of 9.06% and a net margin of 46.31%. The company had revenue of $106.48 million during the quarter, compared to analysts’ expectations of $103.55 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Blackstone Mortgage Trust Inc will post 2.46 earnings per share for the current year.
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.
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