State of New Jersey Common Pension Fund D Has $2.07 Million Stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

State of New Jersey Common Pension Fund D decreased its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 108,630 shares of the real estate investment trust’s stock after selling 1,616 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Blackstone Mortgage Trust worth $2,065,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in Blackstone Mortgage Trust in the 3rd quarter valued at $24,103,000. Van ECK Associates Corp increased its stake in Blackstone Mortgage Trust by 4.9% in the third quarter. Van ECK Associates Corp now owns 823,935 shares of the real estate investment trust’s stock valued at $15,737,000 after acquiring an additional 38,436 shares during the period. Point72 Asset Management L.P. acquired a new position in Blackstone Mortgage Trust in the second quarter worth about $10,656,000. GFS Advisors LLC boosted its holdings in Blackstone Mortgage Trust by 9,068.6% during the third quarter. GFS Advisors LLC now owns 458,430 shares of the real estate investment trust’s stock valued at $8,715,000 after purchasing an additional 453,430 shares in the last quarter. Finally, Choreo LLC bought a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at approximately $6,983,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Stock Down 1.7 %

Blackstone Mortgage Trust stock opened at $17.86 on Friday. Blackstone Mortgage Trust, Inc. has a 12-month low of $16.53 and a 12-month high of $23.29. The stock has a 50-day simple moving average of $18.70 and a 200 day simple moving average of $18.17. The stock 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 announced that its board has approved a stock buyback plan on Wednesday, July 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. BTIG Research reaffirmed a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their target price 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone Mortgage Trust has a consensus rating of “Hold” and a consensus target price of $20.08.

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.