Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Bought by QRG Capital Management Inc.

by · The Cerbat Gem

QRG Capital Management Inc. raised its holdings in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 234,337 shares of the real estate investment trust’s stock after acquiring an additional 23,495 shares during the quarter. QRG Capital Management Inc. owned approximately 0.14% of Blackstone Mortgage Trust worth $4,455,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S increased its stake in Blackstone Mortgage Trust by 33.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 100,190 shares of the real estate investment trust’s stock valued at $1,995,000 after purchasing an additional 25,200 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Blackstone Mortgage Trust by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 150,574 shares of the real estate investment trust’s stock worth $2,998,000 after acquiring an additional 1,929 shares in the last quarter. AIA Group Ltd acquired a new stake in Blackstone Mortgage Trust during the 1st quarter worth $904,000. ProShare Advisors LLC lifted its position in Blackstone Mortgage Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 34,760 shares of the real estate investment trust’s stock valued at $692,000 after acquiring an additional 2,397 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Blackstone Mortgage Trust in the first quarter valued at $943,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Insider Transactions at Blackstone Mortgage Trust

In other news, Director Henry N. Nassau purchased 10,000 shares of the company’s stock in a transaction dated 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 directly owns 165,557 shares in the company, valued at $2,900,558.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 1,495 shares of company stock worth $27,899. Company insiders own 0.93% of the company’s stock.

Blackstone Mortgage Trust Price Performance

Shares of NYSE BXMT opened at $18.38 on Wednesday. The stock has a fifty day moving average price of $18.66 and a 200 day moving average price of $18.15. 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 initiated a stock buyback program 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

BXMT has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Wells Fargo & Company increased their price objective on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.08.

View Our Latest Stock Analysis on BXMT

Blackstone Mortgage Trust Company Profile

(Free Report)

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.

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