Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Sold by TCTC Holdings LLC

TCTC Holdings LLC lessened its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 40.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,000 shares of the real estate investment trust’s stock after selling 2,000 shares during the quarter. TCTC Holdings LLC’s holdings in Blackstone Mortgage Trust were worth $57,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BXMT. Concurrent Investment Advisors LLC purchased a new position in Blackstone Mortgage Trust in the 3rd quarter valued at approximately $253,000. QRG Capital Management Inc. raised its stake in shares of Blackstone Mortgage Trust by 11.1% in the third quarter. QRG Capital Management Inc. now owns 234,337 shares of the real estate investment trust’s stock valued at $4,455,000 after acquiring an additional 23,495 shares in the last quarter. Van ECK Associates Corp grew its stake in Blackstone Mortgage Trust by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 823,935 shares of the real estate investment trust’s stock worth $15,737,000 after purchasing an additional 38,436 shares in the last quarter. Glassy Mountain Advisors Inc. raised its position in Blackstone Mortgage Trust by 2.6% in the 3rd quarter. Glassy Mountain Advisors Inc. now owns 61,445 shares of the real estate investment trust’s stock valued at $1,168,000 after purchasing an additional 1,534 shares in the last quarter. Finally, GFS Advisors LLC boosted its stake in shares of Blackstone Mortgage Trust by 9,068.6% in the 3rd quarter. GFS Advisors LLC now owns 458,430 shares of the real estate investment trust’s stock valued at $8,715,000 after buying an additional 453,430 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Analysts Set New Price Targets

BXMT has been the topic of a number of recent research reports. BTIG Research restated a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Wells Fargo & Company raised their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.08.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE:BXMT opened at $18.98 on Friday. The firm has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $18.16. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.53 and a twelve month high of $23.29.

Blackstone Mortgage Trust declared that its board has initiated a stock repurchase plan on Wednesday, July 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Blackstone Mortgage Trust Company 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.