Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,831 shares of the real estate investment trust’s stock after selling 1,263 shares during the period. Apollon Wealth Management LLC’s holdings in Blackstone Mortgage Trust were worth $1,099,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BXMT. Wells Fargo & Company upped their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. JMP Securities restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. Finally, BTIG Research restated a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. 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, Blackstone Mortgage Trust has a consensus rating of “Hold” and an average price target of $20.08.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE:BXMT opened at $18.17 on Friday. The company has a 50-day simple moving average of $18.71 and a 200-day simple moving average of $18.17. Blackstone Mortgage Trust, Inc. has a one year low of $16.53 and a one year high of $23.29. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -13.07 and a beta of 1.50.

Blackstone Mortgage Trust announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are 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.