Chesapeake Capital Corp IL Makes New $375,000 Investment in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Chesapeake Capital Corp IL purchased a new position in Blackstone Mortgage Trust, Inc. (NYSE:BXMT) in the 3rd quarter, HoldingsChannel reports. The fund purchased 19,186 shares of the real estate investment trust’s stock, valued at approximately $375,000.

Other institutional investors have also modified their holdings of the company. Park Place Capital Corp purchased a new stake in shares of Blackstone Mortgage Trust in the second quarter valued at about $26,000. Harbor Capital Advisors Inc. acquired a new position in shares of Blackstone Mortgage Trust during the third quarter worth about $39,000. Versant Capital Management Inc grew its position in Blackstone Mortgage Trust by 66.4% during the second quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 871 shares during the period. Wellington Shields & Co. LLC grew its position in Blackstone Mortgage Trust by 98.0% during the second quarter. Wellington Shields & Co. LLC now owns 4,555 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 2,255 shares during the period. Finally, Covestor Ltd grew its position in Blackstone Mortgage Trust by 60.0% during the first quarter. Covestor Ltd now owns 4,880 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 1,830 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BXMT shares. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average price target of $20.08.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock opened at $17.85 on Monday. The company’s 50-day moving average price is $18.70 and its two-hundred day moving average price is $18.17. Blackstone Mortgage Trust, Inc. has a 52 week low of $16.53 and a 52 week high of $23.29.

Blackstone Mortgage Trust declared that its board has authorized a stock repurchase program on Wednesday, July 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Blackstone Mortgage Trust 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.