Stayce D. Harris, a director at BlackRock (NYSE:BLK) Income Trust, Inc. (NYSE:BKT), recently acquired 10 shares of common stock in the company. The shares were purchased on October 29, 2024, at a price of $11.80 each, amounting to a total transaction value of $118. Following this transaction, Harris directly owns 10 shares of BlackRock Income Trust. This acquisition reflects a modest increase in Harris's holdings in the firm.
InvestingPro Insights
While Stayce D. Harris's recent acquisition of BlackRock Income Trust (NYSE:BKT) shares was modest, it's worth examining some key financial metrics and insights that provide context to this investment decision.
According to InvestingPro data, BlackRock Income Trust boasts a substantial dividend yield of 8.93%, with its last ex-dividend date on October 15, 2024. This aligns with one of the InvestingPro Tips, which notes that BKT "pays a significant dividend to shareholders." Moreover, the company has maintained dividend payments for an impressive 37 consecutive years, demonstrating a strong commitment to returning value to shareholders.
Despite a slight decline in revenue, with a -3.33% growth in the last twelve months as of Q2 2024, BKT remains profitable. The company's gross profit margin stands at 100%, indicating efficient cost management. This profitability is further supported by an InvestingPro Tip stating that BKT has been "profitable over the last twelve months."
It's noteworthy that while the stock has shown a 21.73% price total return over the past year, it has experienced a -3.98% return in the last month. This recent dip might explain why an InvestingPro Tip suggests that "RSI indicates the stock is in oversold territory," potentially presenting a buying opportunity for investors like Harris.
For readers interested in a more comprehensive analysis, InvestingPro offers 7 additional tips for BlackRock Income Trust, providing a deeper understanding of the company's financial health and market position.
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