Van ECK Associates Corp boosted its position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 823,935 shares of the real estate investment trust's stock after buying an additional 38,436 shares during the quarter. Van ECK Associates Corp owned approximately 0.48% of Blackstone Mortgage Trust worth $15,737,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Glassy Mountain Advisors Inc. increased its stake 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 buying an additional 1,534 shares during the last quarter. GFS Advisors LLC grew its holdings 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 acquiring an additional 453,430 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Blackstone Mortgage Trust during the third quarter worth about $39,000. Childress Capital Advisors LLC boosted its position in Blackstone Mortgage Trust by 10.7% during the third quarter. Childress Capital Advisors LLC now owns 72,397 shares of the real estate investment trust's stock valued at $1,376,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Blackstone Mortgage Trust by 4.1% in the third quarter. Nisa Investment Advisors LLC now owns 69,618 shares of the real estate investment trust's stock valued at $1,359,000 after purchasing an additional 2,766 shares in the last quarter. Institutional investors own 64.15% of the company's stock.
A number of brokerages have recently issued reports on BXMT. BTIG Research reiterated a "buy" rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted 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.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.08.
Read Our Latest Stock Analysis on Blackstone Mortgage Trust
NYSE:BXMT opened at $18.38 on Wednesday. The stock has a 50 day simple moving average of $18.66 and a 200 day simple moving average of $18.15. The stock has a market cap of $3.18 billion, a P/E ratio of -13.22 and a beta of 1.50. Blackstone Mortgage Trust, Inc. has a 1-year low of $16.53 and a 1-year high of $23.29.
Blackstone Mortgage Trust declared that its board has approved a share buyback program on Wednesday, July 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
In other Blackstone Mortgage Trust news, Director Henry N. Nassau purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The shares were acquired 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 owns 165,557 shares of the company's stock, valued at approximately $2,900,558.64. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 1,495 shares of company stock valued at $27,899. 0.93% of the stock is currently owned by corporate insiders.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Blackstone Mortgage Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackstone Mortgage Trust wasn't on the list.
While Blackstone Mortgage Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.