Private Advisor Group LLC lessened its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) by 0.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,765 shares of the real estate investment trust’s stock after selling 737 shares during the period. Private Advisor Group LLC’s holdings in Blackstone Mortgage Trust were worth $1,630,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of BXMT. Dupree Financial Group LLC increased its position in shares of Blackstone Mortgage Trust by 98.8% during the third quarter. Dupree Financial Group LLC now owns 273,560 shares of the real estate investment trust’s stock worth $5,200,000 after acquiring an additional 135,963 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Blackstone Mortgage Trust in the third quarter valued at about $1,695,000. Everence Capital Management Inc. purchased a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at approximately $466,000. True North Advisors LLC lifted its stake in shares of Blackstone Mortgage Trust by 2.7% during the 3rd quarter. True North Advisors LLC now owns 23,435 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 619 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at approximately $95,000. Institutional investors own 64.15% of the company’s stock.
Analyst Ratings Changes
BXMT has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. BTIG Research reissued a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price target on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone Mortgage Trust presently has an average rating of “Hold” and an average target price of $20.08.
Blackstone Mortgage Trust Stock Performance
Shares of Blackstone Mortgage Trust stock opened at $18.64 on Thursday. Blackstone Mortgage Trust, Inc. has a 52-week low of $16.53 and a 52-week high of $23.29. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -13.41 and a beta of 1.50. The company has a fifty day moving average of $18.64 and a 200-day moving average of $18.16.
Blackstone Mortgage Trust announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the real estate investment trust to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Insider Activity
In other Blackstone Mortgage Trust news, Director Henry N. Nassau acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $17.52 per share, with a total value of $175,200.00. Following the purchase, the director now owns 165,557 shares of the company’s stock, valued at approximately $2,900,558.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Blackstone Mortgage Trust news, Director Henry N. Nassau acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $17.52 per share, with a total value of $175,200.00. Following the purchase, the director now owns 165,557 shares of the company’s stock, valued at approximately $2,900,558.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy Steven Johnson acquired 57,050 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $17.50 per share, with a total value of $998,375.00. Following the purchase, the director now directly owns 423,251 shares in the company, valued at $7,406,892.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 83,050 shares of company stock valued at $1,448,135 and sold 1,495 shares valued at $27,899. 0.93% of the stock is owned by corporate insiders.
Blackstone Mortgage Trust Profile
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.
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