GFS Advisors LLC Increases Stake in Blackstone Mortgage Trust, Inc.

GFS Advisors LLC has significantly increased its holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by a staggering 9,068.6% during the third quarter. According to their recent filing with the Securities and Exchange Commission, GFS Advisors now owns a total of 458,430 shares of the real estate investment trust's stock after acquiring an additional 453,430 shares during the quarter. This investment now accounts for roughly 1.9% of GFS Advisors' overall portfolio, making Blackstone Mortgage Trust its 22nd largest position. As of the latest reporting period, GFS Advisors LLC holds 0.27% of Blackstone Mortgage Trust, with the total value of this investment estimated at approximately $8,715,000.

Institutional Investor Activity

Other institutional investors have also been active regarding Blackstone Mortgage Trust. For example, Artemis Investment Management LLP acquired a new stake in the company during the third quarter, valued at around $24,103,000. Similarly, Point72 Asset Management L.P. added a new stake worth approximately $10,656,000 in the second quarter. Choreo LLC and Westwood Holdings Group Inc. have also initiated positions valued at about $6,983,000 and $4,790,000, respectively, in the same period. Additionally, Bracebridge Capital LLC acquired a new position during the first quarter totaling about $4,141,000. Currently, around 64.15% of Blackstone Mortgage Trust's shares are held by institutional investors and hedge funds.

Analysts' Recommendations

Several analysts have provided recent ratings and price targets for Blackstone Mortgage Trust shares. In a research note dated July 19th, BTIG Research reaffirmed a "buy" rating and set a price target of $23.00 for the stock. Wells Fargo & Company followed suit, raising their target price from $19.00 to $22.00 and assigning the stock an "overweight" rating on September 20th. JMP Securities has given a "market perform" rating on Blackstone Mortgage Trust. In total, six analysts rate the stock as a hold while two analysts have issued buy ratings, leading to a consensus rating of "Hold" and a target price of $20.08, according to data from MarketBeat.com.

Stock Performance Overview

On Friday, Blackstone Mortgage Trust stock opened at $18.25. The stock has experienced fluctuations, with a one-year low of $16.53 and a one-year high of $23.29. Its fifty-day simple moving average stands at $18.66, while the 200-day simple moving average is $18.16. The company boasts a market capitalization of $3.16 billion and a P/E ratio of -13.13, alongside a beta of 1.50, indicating its risk level in the market.

Share Buyback Plan

In related news, the company's Board of Directors recently approved a share buyback plan on July 24th, authorizing the repurchase of up to $150 million worth of outstanding shares. This plan allows the real estate investment trust to buy back up to 4.3% of its shares, typically signaling that the board believes the stock is undervalued by the market.

Insider Transactions

CEO Katharine A. Keenan made headlines recently by purchasing 16,000 shares of Blackstone Mortgage Trust on August 5th at an average price of $17.16 per share, amounting to a total transaction of $274,560. Following this transaction, the CEO now holds 198,960 shares valued at approximately $3,414,153.60. Director Henry N. Nassau also bought 10,000 shares on August 8th at an average price of $17.52, with a total transaction value of $175,200. After this acquisition, the director's total shares amounted to approximately $2,900,558.64. Notably, this purchase has not significantly altered insiders' holdings percentages, as corporate insiders own about 0.93% of the stock.

Company Overview

Blackstone Mortgage Trust, Inc. operates as a real estate finance company. It specializes in originating senior loans that are collateralized by commercial properties across North America, Europe, and Australia. The company focuses on acquiring and originating senior floating-rate mortgage loans secured by first-priority mortgages on commercial real estate assets.

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