Sheaff Brock Investment Advisors LLC Makes New Investment in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Sheaff Brock Investment Advisors LLC acquired a new position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 37,613 shares of the real estate investment trust’s stock, valued at approximately $715,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BXMT. Park Place Capital Corp purchased a new position in Blackstone Mortgage Trust in the second quarter valued at approximately $26,000. Harbor Capital Advisors Inc. purchased a new position in Blackstone Mortgage Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc lifted its stake 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 valued at $38,000 after purchasing an additional 871 shares during the last quarter. Wellington Shields & Co. LLC lifted its position in shares of Blackstone Mortgage Trust by 98.0% during the second quarter. Wellington Shields & Co. LLC now owns 4,555 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 2,255 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Blackstone Mortgage Trust by 60.0% in the first quarter. Covestor Ltd now owns 4,880 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,830 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Wall Street Analyst Weigh In

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

Blackstone Mortgage Trust Stock Down 1.7 %

NYSE BXMT opened at $17.86 on Friday. The stock’s 50-day simple moving average is $18.70 and its two-hundred day simple moving average is $18.17. Blackstone Mortgage Trust, Inc. has a twelve month low of $16.53 and a twelve month high of $23.29. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -12.85 and a beta of 1.50.

Blackstone Mortgage Trust declared that its board has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.