HighTower Advisors LLC Cuts Holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

HighTower Advisors LLC cut its position in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 3.2% during the 3rd quarter, Holdings Channel reports. The firm owned 193,089 shares of the real estate investment trust’s stock after selling 6,406 shares during the quarter. HighTower Advisors LLC’s holdings in Blackstone Mortgage Trust were worth $3,672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BXMT. Cetera Advisors LLC boosted its holdings in Blackstone Mortgage Trust by 29.5% during the first quarter. Cetera Advisors LLC now owns 12,381 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 2,824 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Blackstone Mortgage Trust by 6.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 28,997 shares of the real estate investment trust’s stock worth $505,000 after acquiring an additional 1,648 shares during the period. Raymond James & Associates raised its position in Blackstone Mortgage Trust by 9.7% in the second quarter. Raymond James & Associates now owns 74,341 shares of the real estate investment trust’s stock worth $1,295,000 after acquiring an additional 6,558 shares during the period. Sunpointe LLC bought a new stake in Blackstone Mortgage Trust in the second quarter worth about $351,000. Finally, Dupree Financial Group LLC bought a new stake in Blackstone Mortgage Trust in the second quarter worth about $2,397,000. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BXMT has been the topic of several research reports. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.07.

Blackstone Mortgage Trust Stock Up 1.5 %

NYSE BXMT opened at $19.23 on Thursday. The company’s 50 day moving average is $18.57 and its 200-day moving average is $18.28. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.53 and a 12-month high of $23.29. The firm has a market cap of $3.33 billion, a P/E ratio of -13.83 and a beta of 1.50.

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.