Chesapeake Capital Corp IL Takes Position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Chesapeake Capital Corp IL acquired a new stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,186 shares of the real estate investment trust’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. True North Advisors LLC raised its stake in shares of 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 valued at $446,000 after acquiring an additional 619 shares in the last quarter. Versant Capital Management Inc grew its holdings in Blackstone Mortgage Trust by 66.4% in the second quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 871 shares during the last quarter. AQR Capital Management LLC grew its holdings in Blackstone Mortgage Trust by 2.5% in the second quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock worth $783,000 after purchasing 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% during 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 buying an additional 1,206 shares during the last quarter. Finally, Park Place Capital Corp purchased a new stake in shares of Blackstone Mortgage Trust during the second quarter valued at $26,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. JMP Securities reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone Mortgage Trust currently has an average rating of “Hold” and a consensus price target of $20.08.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $17.85 on Monday. The company has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $18.17. Blackstone Mortgage Trust, Inc. has a 1 year low of $16.53 and a 1 year high of $23.29.

Blackstone Mortgage Trust announced that its Board of Directors has initiated a share buyback program on Wednesday, July 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors 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.