Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP boosted its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 31.3% in the third quarter, HoldingsChannel.com reports. The fund owned 72,432 shares of the real estate investment trust’s stock after purchasing an additional 17,259 shares during the period. Entropy Technologies LP’s holdings in Blackstone Mortgage Trust were worth $1,377,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Quadrature Capital Ltd raised its holdings in Blackstone Mortgage Trust by 229.8% in the first quarter. Quadrature Capital Ltd now owns 49,743 shares of the real estate investment trust’s stock valued at $990,000 after acquiring an additional 34,659 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Blackstone Mortgage Trust by 160.0% in the 2nd quarter. Transcend Capital Advisors LLC now owns 69,264 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 42,623 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of Blackstone Mortgage Trust in the 1st quarter valued at $1,069,000. Point72 Asset Management L.P. acquired a new position in shares of Blackstone Mortgage Trust in the 2nd quarter valued at $10,656,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Blackstone Mortgage Trust in the 2nd quarter valued at $3,061,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Blackstone Mortgage Trust Stock Performance

Shares of NYSE:BXMT opened at $18.18 on Thursday. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.53 and a 1 year high of $23.29. The stock has a market capitalization of $3.14 billion, a P/E ratio of -13.08 and a beta of 1.50. The stock has a 50-day simple moving average of $18.70 and a 200-day simple moving average of $18.17.

Blackstone Mortgage Trust declared that its board has authorized a share buyback program on Wednesday, July 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.