Comerica Bank Has $731,000 Stake in Blackstone Mortgage Trust Inc (NYSE:BXMT)

Comerica Bank lifted its position in shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) by 227.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,353 shares of the real estate investment trust’s stock after buying an additional 14,129 shares during the quarter. Comerica Bank’s holdings in Blackstone Mortgage Trust were worth $731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its position in Blackstone Mortgage Trust by 25.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,486 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 300 shares in the last quarter. Pecaut & CO. raised its stake in Blackstone Mortgage Trust by 4.3% in the first quarter. Pecaut & CO. now owns 8,097 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 332 shares during the last quarter. Regentatlantic Capital LLC raised its stake in shares of Blackstone Mortgage Trust by 1.7% in the second quarter. Regentatlantic Capital LLC now owns 21,447 shares of the real estate investment trust’s stock worth $763,000 after purchasing an additional 362 shares during the last quarter. Bridgecreek Investment Management LLC raised its stake in shares of Blackstone Mortgage Trust by 0.5% in the first quarter. Bridgecreek Investment Management LLC now owns 83,950 shares of the real estate investment trust’s stock worth $2,901,000 after purchasing an additional 425 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its stake in shares of Blackstone Mortgage Trust by 1.0% in the first quarter. Stanley Laman Group Ltd. now owns 48,238 shares of the real estate investment trust’s stock worth $1,667,000 after purchasing an additional 466 shares during the last quarter. 59.87% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Douglas N. Armer sold 915 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.36, for a total transaction of $32,354.40. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony F. Marone, Jr. sold 749 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.42, for a total value of $26,529.58. Following the transaction, the chief financial officer now directly owns 28,659 shares of the company’s stock, valued at $1,015,101.78. The disclosure for this sale can be found here. Insiders sold a total of 3,240 shares of company stock worth $114,739 in the last quarter. Company insiders own 0.95% of the company’s stock.

Shares of NYSE:BXMT traded down $0.06 during trading on Friday, reaching $36.10. The stock had a trading volume of 22,001 shares, compared to its average volume of 728,722. Blackstone Mortgage Trust Inc has a 1-year low of $30.84 and a 1-year high of $36.77. The stock has a market cap of $4.87 billion, a PE ratio of 13.62, a PEG ratio of 2.90 and a beta of 0.53. The business has a fifty day moving average price of $35.19 and a 200-day moving average price of $35.31.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.62 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $103.55 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts expect that Blackstone Mortgage Trust Inc will post 2.46 earnings per share for the current year.

Several research analysts have recently issued reports on the company. ValuEngine cut Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Blackstone Mortgage Trust has a consensus rating of “Hold” and a consensus price target of $35.83.

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.

Further Reading: The limitations of an equal weight rating

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

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