GFS Advisors LLC Increases Stake in Blackstone Mortgage Trust

GFS Advisors LLC has significantly increased its investment in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by an astounding 9,068.6% in the third quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). Following this increase, GFS Advisors now holds a total of 458,430 shares of this real estate investment trust (REIT), having acquired an additional 453,430 shares during the quarter. This investment represents 1.9% of GFS Advisors’ portfolio, making Blackstone Mortgage Trust the fund's 22nd largest holding. As of the most recent reporting period, GFS Advisors owned 0.27% of Blackstone Mortgage Trust, valued at approximately $8,715,000.

Institutional Investor Activities

In addition to GFS Advisors, other institutional investors have also made notable changes to their positions in Blackstone Mortgage Trust. For instance, Artemis Investment Management LLP acquired a new stake valued at $24,103,000 during the third quarter. Similarly, Point72 Asset Management L.P. invested $10,656,000 in shares of Blackstone Mortgage Trust in the second quarter. Choreo LLC and Westwood Holdings Group Inc. also entered new positions valued at approximately $6,983,000 and $4,790,000, respectively, during the same period. Bracebridge Capital LLC made a smaller acquisition of about $4,141,000 in the first quarter. Overall, institutional investors and hedge funds currently hold 64.15% of the stock.

Analyst Ratings and Price Targets

Several analysts have shared their views on Blackstone Mortgage Trust. BTIG Research reiterated its “buy” rating, setting a price target of $23.00 for the stock back on July 19th. Wells Fargo & Company raised their target price from $19.00 to $22.00, giving the stock an “overweight” rating on September 20th. JMP Securities also maintained a “market perform” rating for BXMT. Overall, six analysts rated the stock as a hold, while two recommended buying it. According to MarketBeat.com, the stock currently holds a consensus rating of “Hold” with an average target price of $20.08.

Current Trading Performance

The stock of Blackstone Mortgage Trust opened at $18.25 on the latest trading day. The company's shares have experienced fluctuations, reaching a 1-year low of $16.53 and a high of $23.29. As of now, the stock has a market capitalization of $3.16 billion, a price-to-earnings (P/E) ratio of -13.13, and a beta of 1.50, indicating its volatility in the market.

Share Buyback Plan

Recently, Blackstone Mortgage Trust’s Board of Directors approved a share buyback program, which allows the company to repurchase up to $150 million of its outstanding shares. This plan, which authorizes the buyback of approximately 4.3% of its stock through open market purchases, may signal to investors that the board believes the shares are currently undervalued.

Insider Transactions

In related news, CEO Katharine A. Keenan purchased 16,000 shares of the company on August 5th, with an average purchase price of $17.16 per share, totaling $274,560. After this transaction, she now owns 198,960 shares valued at about $3,414,153. Similarly, Director Henry N. Nassau acquired 10,000 shares at an average price of $17.52 per share on August 8th, representing a total transaction of $175,200. Following this transaction, he holds approximately 165,557 shares valued at around $2,900,558. Insiders have sold a small volume of shares, amounting to 1,495 shares worth $27,899 in the last quarter, and corporate insiders hold 0.93% of the company’s stock.

Company Overview

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

investment, realestate, stocks