Principal Financial Group Inc. reduced its stake in Blackstone Mortgage Trust by 8.1%, selling over 68,000 shares, though it still holds approximately $14.18 million worth of the company’s stock. Blackstone Mortgage Trust offers a high dividend yield of 9.6%, but its payout ratio of 303.23% raises concerns about dividend sustainability. Analysts have a mixed outlook, with a “Hold” consensus rating and an average target price of $21.00.
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Principal Financial Group Inc. Sells 68,209 Shares of Blackstone Mortgage Trust, Inc. $BXMT
Principal Financial Group Inc. reduced its stake in Blackstone Mortgage Trust by 8.1%, selling over 68,000 shares, though it still holds approximately $14.18 million worth of the company’s stock. Blackstone Mortgage Trust offers a high dividend yield of 9.6%, but its payout ratio of 303.23% raises concerns about dividend sustainability. Analysts have a mixed outlook, with a “Hold” consensus rating and an average target price of $21.00.