GFS Advisors LLC Increases Stake in Blackstone Mortgage Trust

GFS Advisors LLC has significantly increased its stake in Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Free Report) by an astonishing 9,068.6% during the third quarter of the year. This information comes from the company's latest filing with the Securities and Exchange Commission. After acquiring an additional 453,430 shares during this period, GFS Advisors now holds a total of 458,430 shares in the real estate investment trust (REIT).

As a percentage of its portfolio, Blackstone Mortgage Trust represents 1.9%, making it the 22nd largest position for GFS Advisors LLC. At the close of the most recent reporting period, the fund owned approximately 0.27% of Blackstone Mortgage Trust, worth about $8,715,000.

Institutional Investments in Blackstone Mortgage Trust

In addition to GFS Advisors, other institutional investors have been actively buying or selling their shares in Blackstone Mortgage Trust. For instance, Artemis Investment Management LLP established a new stake in the company valued at $24,103,000 during the third quarter. Similarly, Point72 Asset Management L.P. bought into Blackstone Mortgage Trust during the second quarter with a stake worth $10,656,000. Other notable investments include Choreo LLC, which invested around $6,983,000, and Westwood Holdings Group Inc., which acquired shares worth about $4,790,000 in the same quarter. Bracebridge Capital LLC also entered the fray with a new investment valued at approximately $4,141,000 during the first quarter. Currently, institutional investors and hedge funds own about 64.15% of the company’s stock.

Analyst Recommendations and Price Targets

Several financial analysts have shared their insights regarding the future of Blackstone Mortgage Trust. On July 19th, BTIG Research reiterated a "buy" rating on the stock, setting a price target of $23.00. Wells Fargo & Company also increased their price target from $19.00 to $22.00, while maintaining an "overweight" rating on September 20th. JMP Securities provided a "market perform" rating on July 23rd. Overall, six analysts have given the stock a hold rating, two have assigned a buy rating, and according to MarketBeat.com, the stock has a consensus rating of "Hold" with an average target price of $20.08.

Recent Stock Activity

As of Friday, Blackstone Mortgage Trust shares opened at $18.25. The stock has seen a 52-week low of $16.53 and a high of $23.29. The company has an average trading volume of 18.66, along with a 200-day moving average of $18.16. With a market cap of approximately $3.16 billion, it has a price-to-earnings (P/E) ratio of -13.13 and a beta of 1.50.

Additionally, Blackstone Mortgage Trust's Board of Directors approved a share buyback plan on July 24, enabling the company to repurchase up to $150 million of its outstanding shares. This buyback program, which represents about 4.3% of its stock, indicates the board believes the shares are currently undervalued.

Insider Trading Events

In some insider trading news, CEO Katharine A. Keenan purchased 16,000 shares on August 5th, at an average price of $17.16, totaling $274,560. This transaction increased her total ownership to 198,960 shares, valued at about $3,414,153.60. Furthermore, Director Henry N. Nassau bought 10,000 shares on August 8th for an average price of $17.52, amounting to $175,200. This acquisition raised his ownership to 165,557 shares, valued at roughly $2,900,558.64. Corporate insiders hold approximately 0.93% of the company’s stock, with a few individuals selling a total of 1,495 shares worth $27,899 in the latest quarter.

Overview of Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc. is a prominent real estate finance company specializing in originating senior loans that are backed by commercial properties across North America, Europe, and Australia. The firm focuses on originating and acquiring senior floating-rate mortgage loans that are secured by first-priority mortgages on commercial real estate assets.

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