Amalgamated Bank Trims Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Amalgamated Bank lessened its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,063 shares of the real estate investment trust’s stock after selling 1,933 shares during the period. Amalgamated Bank’s holdings in Blackstone Mortgage Trust were worth $971,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BXMT. Park Place Capital Corp purchased a new stake in shares of Blackstone Mortgage Trust in the second quarter valued at approximately $26,000. Versant Capital Management Inc increased its holdings in Blackstone Mortgage Trust by 66.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 871 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Blackstone Mortgage Trust during the third quarter worth $39,000. Wellington Shields & Co. LLC raised its position in 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 during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Blackstone Mortgage Trust during the second quarter valued at $87,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BXMT has been the subject of a number of research reports. BTIG Research reissued a “buy” rating and set a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Wells Fargo & Company boosted their price objective on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, JMP Securities restated 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.08.

Blackstone Mortgage Trust Price Performance

BXMT opened at $18.17 on Friday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -13.07 and a beta of 1.50. The company’s 50 day simple moving average is $18.71 and its two-hundred day simple moving average is $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 plan on Wednesday, July 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is 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.