Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Acquired by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. lifted its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,445 shares of the real estate investment trust’s stock after purchasing an additional 1,534 shares during the period. Glassy Mountain Advisors Inc.’s holdings in Blackstone Mortgage Trust were worth $1,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Artemis Investment Management LLP acquired a new stake in Blackstone Mortgage Trust during the third quarter worth $24,103,000. Point72 Asset Management L.P. acquired a new position in Blackstone Mortgage Trust during the 2nd quarter worth $10,656,000. GFS Advisors LLC grew its stake in Blackstone Mortgage Trust by 9,068.6% during the 3rd quarter. GFS Advisors LLC now owns 458,430 shares of the real estate investment trust’s stock worth $8,715,000 after purchasing an additional 453,430 shares in the last quarter. Choreo LLC acquired a new position in Blackstone Mortgage Trust during the 2nd quarter worth $6,983,000. Finally, Westwood Holdings Group Inc. acquired a new position in Blackstone Mortgage Trust during the 2nd quarter worth $4,790,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $18.25 on Friday. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.53 and a fifty-two week high of $23.29. The company has a market capitalization of $3.16 billion, a P/E ratio of -13.13 and a beta of 1.50. The stock has a 50-day simple moving average of $18.66 and a 200-day simple moving average of $18.16.

Blackstone Mortgage Trust declared that its board has initiated a stock buyback program on Wednesday, July 24th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan acquired 16,000 shares of Blackstone Mortgage Trust stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $17.16 per share, with a total value of $274,560.00. Following the purchase, the chief executive officer now directly owns 198,960 shares in the company, valued at approximately $3,414,153.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Katharine A. Keenan acquired 16,000 shares of Blackstone Mortgage Trust stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $17.16 per share, with a total value of $274,560.00. Following the purchase, the chief executive officer now directly owns 198,960 shares in the company, valued at approximately $3,414,153.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry N. Nassau acquired 10,000 shares of Blackstone Mortgage Trust stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $17.52 per share, with a total value of $175,200.00. Following the completion of the purchase, the director now owns 165,557 shares in the company, valued at $2,900,558.64. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,495 shares of company stock valued at $27,899 in the last ninety days. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.08.

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.