Louisiana State Employees Retirement System Cuts Holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Louisiana State Employees Retirement System trimmed its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,900 shares of the real estate investment trust’s stock after selling 3,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Blackstone Mortgage Trust were worth $1,595,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dupree Financial Group LLC lifted its holdings in shares of Blackstone Mortgage Trust by 98.8% during the 3rd quarter. Dupree Financial Group LLC now owns 273,560 shares of the real estate investment trust’s stock valued at $5,200,000 after buying an additional 135,963 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at $1,695,000. Everence Capital Management Inc. bought a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at $466,000. True North Advisors LLC lifted its holdings 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 during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Blackstone Mortgage Trust during the 3rd quarter valued at $95,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their target price on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.08.

Blackstone Mortgage Trust Stock Down 2.3 %

NYSE:BXMT opened at $18.21 on Friday. The business’s 50-day simple moving average is $18.65 and its two-hundred day simple moving average is $18.16. The stock has a market cap of $3.15 billion, a PE ratio of -13.10 and a beta of 1.50. Blackstone Mortgage Trust, Inc. has a 52 week low of $16.53 and a 52 week high of $23.29.

Blackstone Mortgage Trust declared that its Board of Directors has authorized a share 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Blackstone Mortgage Trust

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