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NEW YORK—Katharine Keenan, the CEO and President of Blackstone Mortgage Trust, Inc. (NYSE:BXMT), a $3.64 billion mortgage REIT trading near its 52-week high of $21.09, recently sold shares of the company’s Class A common stock valued at approximately $47,912. The transaction, which took place on March 17, 2025, involved the sale of 2,315 shares at a weighted average price of $20.6967 per share.
The sale was conducted under a Rule 10b5-1 trading plan, which Keenan adopted on August 8, 2024. This plan was established to address tax withholding obligations related to the vesting of previously granted restricted stock awards. Following the transaction, Keenan retains ownership of 246,172 shares in the company. The stock currently offers a substantial 9.02% dividend yield and has maintained dividend payments for 14 consecutive years, according to InvestingPro data.
Investors often monitor such insider transactions for potential insights into the executive’s confidence in the company’s future performance. The stock has shown strong momentum with a 19.76% return year-to-date, and InvestingPro analysts expect the company to return to profitability this year. For deeper insights into BXMT’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Blackstone Mortgage Trust has declared a dividend of $0.47 per share for the first quarter of 2025, which will be paid to shareholders on April 15, 2025. This announcement reflects the company’s ongoing commitment to providing risk-adjusted returns primarily through dividends. Meanwhile, Keefe, Bruyette & Woods have raised their price target for Blackstone Mortgage Trust to $19.50 from $18.50, maintaining a Market Perform rating. The analyst firm highlighted increased originations and modestly lower CECL reserves as factors influencing their revised outlook. Additionally, Blackstone Mortgage Trust has appointed Marcin Urbaszek as Deputy Chief Financial Officer and Principal Accounting Officer, effective January 2, 2025. Urbaszek brings over 20 years of finance experience to the role, having previously served as Vice President and CFO at Granite Point Mortgage Trust Inc (NYSE:GPMT). The company also announced the resignation of Thomas E. Dobrowski from the Board of Directors, effective January 15, 2025, and subsequently reduced the board’s size from nine to eight members. These developments are part of the company’s recent strategic adjustments and leadership changes.
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