GFS Advisors LLC Expands Investment in Blackstone Mortgage Trust, Inc.

During the third quarter of the year, GFS Advisors LLC significantly increased its investment in Blackstone Mortgage Trust, Inc. (NYSE: BXMT), boosting its position by an astonishing 9,068.6%. This information was revealed in the company’s latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 453,430 shares within this period, GFS Advisors LLC now holds a total of 458,430 shares of this real estate investment trust's stock.

Blackstone Mortgage Trust represents 1.9% of GFS Advisors LLC's entire portfolio, making it the 22nd largest position for the fund. As of the end of the most recent reporting period, GFS Advisors LLC's stake in Blackstone Mortgage Trust is valued at approximately $8,715,000, equating to about 0.27% of the company's total shares.

Institutional Investor Activity

Other institutional investors have also been actively adjusting their holdings in Blackstone Mortgage Trust. During the same quarter, Artemis Investment Management LLP established a new stake valued at $24,103,000. Furthermore, Point72 Asset Management L.P. acquired shares worth $10,656,000 in the prior quarter. Choreo LLC and Westwood Holdings Group Inc. also made new investments during the second quarter, contributing $6,983,000 and $4,790,000 respectively. Bracebridge Capital LLC began its position in Blackstone Mortgage Trust earlier in the year, with an investment valued at around $4,141,000. Currently, institutional investors and hedge funds collectively own approximately 64.15% of the stock.

Analysts Offer New Insights

Several analysts have provided their perspectives on Blackstone Mortgage Trust (BXMT) shares recently. BTIG Research maintained a "buy" rating and set a price target of $23.00. Similarly, Wells Fargo & Company raised their target price from $19.00 to $22.00, assigning an "overweight" rating in their analysis dated September 20. JMP Securities reiterated a "market perform" rating in their report from July 23. Overall, six research analysts have graded the stock with a hold recommendation, while two have given it a buy rating. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.08.

Current Stock Performance

On the trading front, Blackstone Mortgage Trust's shares opened at $18.25 recently. Over the past year, the stock has seen a low of $16.53 and a high of $23.29. The company's 50-day simple moving average stands at $18.66, while the 200-day simple moving average is $18.16. Blackstone Mortgage Trust has a market capitalization of around $3.16 billion and a price-to-earnings (P/E) ratio of -13.13, with a beta of 1.50.

In a strategic move, Blackstone Mortgage Trust’s Board of Directors approved a share buyback plan on July 24, authorizing the company to repurchase up to $150 million in outstanding shares. This plan allows for the reacquisition of approximately 4.3% of its stock, often seen as a signal that the board believes the shares are undervalued.

Insider Transactions

In related news, CEO Katharine A. Keenan recently purchased 16,000 shares of Blackstone Mortgage Trust at an average price of $17.16 per share, resulting in a total investment of $274,560. After this transaction, she owns 198,960 shares valued at approximately $3,414,153.60. The acquisition was reported in a legal filing with the SEC. Additionally, Director Henry N. Nassau bought 10,000 shares at an average price of $17.52 per share, totaling $175,200. Following this, he holds 165,557 shares worth about $2,900,558.64. In the last quarter, insiders sold shares worth $27,899, while corporate insiders now own 0.93% of the company's stock.

About Blackstone Mortgage Trust

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

investment, finance, real estate