DT Investment Partners LLC Cuts Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

by · The Cerbat Gem

DT Investment Partners LLC cut its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Free Report) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,700 shares of the real estate investment trust’s stock after selling 1,300 shares during the quarter. DT Investment Partners LLC’s holdings in Blackstone Mortgage Trust were worth $184,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. True North Advisors LLC lifted its position in Blackstone Mortgage Trust by 2.7% during the third quarter. True North Advisors LLC now owns 23,435 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 619 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Blackstone Mortgage Trust by 66.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 871 shares during the period. AQR Capital Management LLC boosted its position in shares of Blackstone Mortgage Trust by 2.5% during the 2nd quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock valued at $783,000 after acquiring an additional 1,111 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Blackstone Mortgage Trust by 2.7% in the second quarter. Arizona State Retirement System now owns 46,190 shares of the real estate investment trust’s stock valued at $805,000 after purchasing an additional 1,206 shares during the period. Finally, Park Place Capital Corp acquired a new stake in Blackstone Mortgage Trust during the second quarter worth about $26,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT stock opened at $18.91 on Friday. The firm has a market cap of $3.28 billion, a P/E ratio of -21.01 and a beta of 1.50. The firm’s 50 day moving average price is $18.55 and its 200-day moving average price is $18.17. Blackstone Mortgage Trust, Inc. has a one year low of $16.53 and a one year high of $23.29.

Blackstone Mortgage Trust (NYSE:BXMT – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $466.15 million for the quarter, compared to analysts’ expectations of $131.87 million. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts predict that Blackstone Mortgage Trust, Inc. will post 1.94 EPS for the current fiscal year.

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

Analyst Ratings Changes

BXMT has been the topic of several recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. BTIG Research reiterated a “buy” rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $20.08.

Check Out Our Latest Analysis on BXMT

Insider Buying and Selling

In other news, Director Henry N. Nassau bought 10,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $17.52 per share, with a total value of $175,200.00. Following the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone Mortgage Trust news, Director Henry N. Nassau bought 10,000 shares of Blackstone Mortgage Trust stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $17.52 per share, for a total transaction of $175,200.00. Following the acquisition, the director now directly owns 165,557 shares in the company, valued at $2,900,558.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy Steven Johnson purchased 57,050 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $17.50 per share, with a total value of $998,375.00. Following the purchase, the director now owns 423,251 shares of the company’s stock, valued at approximately $7,406,892.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 83,050 shares of company stock valued at $1,448,135 and have sold 1,495 shares valued at $27,899. 0.93% of the stock is owned by corporate insiders.

About Blackstone Mortgage Trust

(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.

See Also

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