Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Acquired by Ellis Investment Partners LLC

Ellis Investment Partners LLC lifted its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,521 shares of the real estate investment trust’s stock after purchasing an additional 7,108 shares during the period. Ellis Investment Partners LLC owned about 0.10% of Blackstone Mortgage Trust worth $3,204,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Dupree Financial Group LLC increased its stake in shares of Blackstone Mortgage Trust by 98.8% in the third quarter. Dupree Financial Group LLC now owns 273,560 shares of the real estate investment trust’s stock worth $5,200,000 after buying an additional 135,963 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Blackstone Mortgage Trust in the third quarter worth $1,695,000. Everence Capital Management Inc. bought a new stake in shares of Blackstone Mortgage Trust in the third quarter worth $466,000. True North Advisors LLC increased its stake in shares of Blackstone Mortgage Trust by 2.7% in 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 during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Blackstone Mortgage Trust in the third quarter worth $95,000. 64.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone Mortgage Trust

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

Blackstone Mortgage Trust Stock Performance

Shares of Blackstone Mortgage Trust stock traded down $0.38 during trading on Friday, hitting $18.55. 1,323,412 shares of the stock were exchanged, compared to its average volume of 1,985,454. The stock’s fifty day moving average is $18.60 and its 200 day moving average is $18.16. The stock has a market cap of $3.22 billion, a PE ratio of -20.61 and a beta of 1.50. Blackstone Mortgage Trust, Inc. has a 12 month low of $16.53 and a 12 month high of $23.29.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. The business had revenue of $466.15 million during the quarter, compared to analyst estimates of $131.87 million. Blackstone Mortgage Trust had a negative net margin of 7.98% and a positive return on equity of 10.16%. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Sell-side analysts anticipate that Blackstone Mortgage Trust, Inc. will post 1.94 EPS for the current fiscal year.

Blackstone Mortgage Trust announced that its Board of Directors has authorized a share buyback 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 generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. BTIG Research reiterated a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Finally, JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. Six 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, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average target price of $20.08.

About Blackstone Mortgage Trust

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.