Covestor Ltd Decreases Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Covestor Ltd decreased its position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 51.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,555 shares of the real estate investment trust’s stock after selling 5,970 shares during the period. Covestor Ltd’s holdings in Blackstone Mortgage Trust were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BXMT. ProShare Advisors LLC lifted its position in shares of Blackstone Mortgage Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 34,760 shares of the real estate investment trust’s stock valued at $692,000 after buying an additional 2,397 shares during the last quarter. Entropy Technologies LP bought a new position in Blackstone Mortgage Trust during the first quarter worth about $943,000. TCTC Holdings LLC increased its stake in shares of Blackstone Mortgage Trust by 34.2% in the first quarter. TCTC Holdings LLC now owns 15,700 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 4,000 shares in the last quarter. Bracebridge Capital LLC bought a new stake in shares of Blackstone Mortgage Trust in the first quarter valued at approximately $4,141,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Blackstone Mortgage Trust by 400.0% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 50,000 shares of the real estate investment trust’s stock valued at $996,000 after buying an additional 40,000 shares in the last quarter. 64.15% of the stock is owned by institutional investors.

Blackstone Mortgage Trust Stock Down 3.7 %

NYSE:BXMT opened at $18.28 on Wednesday. The stock has a market cap of $3.16 billion, a P/E ratio of -13.65 and a beta of 1.50. The business’s 50-day moving average price is $18.71 and its two-hundred day moving average price is $18.17. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.53 and a twelve month high of $23.29.

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

Wall Street Analysts Forecast Growth

BXMT has been the topic of a number of analyst reports. BTIG Research reissued a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a 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 raised their target price on 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.08.

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.