Private Advisor Group LLC Reduces Holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Private Advisor Group LLC trimmed its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 85,765 shares of the real estate investment trust’s stock after selling 737 shares during the quarter. Private Advisor Group LLC’s holdings in Blackstone Mortgage Trust were worth $1,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dupree Financial Group LLC lifted its position in shares of Blackstone Mortgage Trust by 98.8% in the 3rd quarter. Dupree Financial Group LLC now owns 273,560 shares of the real estate investment trust’s stock worth $5,200,000 after purchasing an additional 135,963 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $1,695,000. Everence Capital Management Inc. purchased a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $466,000. True North Advisors LLC lifted its position in shares of Blackstone Mortgage Trust by 2.7% in the 3rd quarter. True North Advisors LLC now owns 23,435 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 619 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $95,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Stock Performance

NYSE:BXMT opened at $18.64 on Thursday. The firm has a market cap of $3.22 billion, a P/E ratio of -13.41 and a beta of 1.50. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.53 and a fifty-two week high of $23.29. The firm has a 50-day simple moving average of $18.64 and a two-hundred day simple moving average of $18.16.

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

Wall Street Analyst Weigh In

BXMT has been the subject of several research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. 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 research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.08.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, Director Timothy Steven Johnson acquired 57,050 shares of Blackstone Mortgage Trust stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $998,375.00. Following the purchase, the director now owns 423,251 shares in the company, valued at $7,406,892.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Henry N. Nassau purchased 10,000 shares of Blackstone Mortgage Trust stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $17.52 per share, for a total transaction of $175,200.00. Following the completion of the purchase, the director now directly owns 165,557 shares of the company’s stock, valued at $2,900,558.64. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy Steven Johnson purchased 57,050 shares of Blackstone Mortgage Trust stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $17.50 per share, with a total value of $998,375.00. Following the completion of the purchase, the director now directly owns 423,251 shares of the company’s stock, valued at approximately $7,406,892.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 83,050 shares of company stock worth $1,448,135 and sold 1,495 shares worth $27,899. 0.93% of the stock is owned by company insiders.

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.