Diversify Advisory Services LLC Acquires Shares in Blackstone Mortgage Trust

Diversify Advisory Services LLC has made a significant investment in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) during the fourth quarter. The firm purchased 10,046 shares of the real estate investment trust, amounting to a total investment of approximately $172,000.

Other institutional investors have also been active in adjusting their positions with Blackstone Mortgage Trust. In the third quarter, Tidal Investments LLC added a new stake valued at $883,000. Similarly, Virtu Financial LLC acquired shares worth around $350,000, while McIlrath & Eck LLC invested approximately $63,000 in the same period. Weiss Asset Management LP made a more substantial investment, injecting about $1,937,000 into the company. Additionally, Stifel Financial Corp increased its holdings by 15.4%, now owning a total of 70,381 shares valued at $1,338,000 after acquiring an extra 9,405 shares. Overall, hedge funds and other institutional investors hold about 64.15% of the stock.

Recent Analyst Ratings

A variety of analysts have provided updates on BXMT shares. Keefe, Bruyette & Woods reduced their price target for Blackstone Mortgage Trust from $19.00 to $18.50 and recommended a “market perform” rating on January 14th. On the other hand, Wolfe Research upgraded their rating from “peer perform” to “outperform,” setting a new price target of $20.00 on December 11th. Conversely, JPMorgan Chase & Co. lowered their target price from $18.50 to $17.50 while maintaining a “neutral” rating. Currently, five analysts rate the stock as a hold, while three recommend buying it. As per MarketBeat.com data, Blackstone Mortgage Trust has an average rating of “Hold” and a consensus price target of $20.14.

Stock Performance

On January 24th, shares of Blackstone Mortgage Trust were trading at $17.59, reflecting a 0.7% decrease. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -12.66, and a beta of 1.50. Over the past 52 weeks, the stock's low was recorded at $16.53, while its highest point was $21.50. The stock has a 50-day simple moving average of $18.34, coupled with a 200-day simple moving average of $18.40.

Dividend Announcement

Recently, Blackstone Mortgage Trust announced a quarterly dividend, which was paid out on January 15th. Shareholders who were on record as of December 31st received a dividend of $0.47 per share, translating to an annualized dividend of $1.88 and a dividend yield of 10.69%. The ex-dividend date was also on December 31st, while the company currently has a dividend payout ratio of -135.25%.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc. is a company primarily involved in real estate finance. It specializes in originating senior loans backed by commercial properties located in North America, Europe, and Australia. The organization focuses on originating and acquiring senior floating rate mortgage loans secured by first-priority mortgages on commercial real estate assets.

investment, shares, finance