GFS Advisors LLC Acquires 453,430 Shares of Blackstone Mortgage Trust, Inc. (NYSE: BXMT)

GFS Advisors LLC has significantly increased its holdings in Blackstone Mortgage Trust, Inc. (NYSE: BXMT) by an impressive 9,068.6% during the third quarter. This information comes from the fund's latest filing with the Securities and Exchange Commission. As a result, GFS Advisors now owns a total of 458,430 shares of the real estate investment trust (REIT) after purchasing an additional 453,430 shares during this reporting period.

Currently, Blackstone Mortgage Trust constitutes 1.9% of GFS Advisors LLC’s total portfolio, ranking it as the 22nd largest position within the fund. At the end of the reporting period, GFS Advisors owned about 0.27% of Blackstone Mortgage Trust, which is valued at approximately $8,715,000.

Institutional Investors' Participation

A range of other hedge funds and institutional investors have also been active, either increasing or decreasing their stakes in Blackstone Mortgage Trust. For example, Artemis Investment Management LLP acquired a new stake valued at $24,103,000 during the third quarter. Similarly, Point72 Asset Management L.P. purchased shares worth about $10,656,000 in the second quarter, while Choreo LLC added approximately $6,983,000 to their position during the same period. In addition, Westwood Holdings Group Inc. acquired a stake valued at approximately $4,790,000, and Bracebridge Capital LLC bought shares worth about $4,141,000 during the first quarter. As it stands, institutional investors and hedge funds collectively own about 64.15% of Blackstone Mortgage Trust stock.

Analysts and Price Targets

Several analysts have recently revised their outlook for BXMT shares. BTIG Research has maintained a "buy" rating and set a price target of $23.00. Wells Fargo & Company also raised their target price from $19.00 to $22.00, giving the company an "overweight" rating. JMP Securities issued a "market perform" rating. Overall, a consensus rating from market analysts indicates a "Hold" status for the stock, with a consensus target price of around $20.08 according to data from MarketBeat.com.

Stock Performance

On Friday, Blackstone Mortgage Trust shares opened at $18.25. The stock has shown some fluctuations, reaching a 1-year low of $16.53 and a 1-year high of $23.29. The company also has a fifty-day simple moving average of $18.66 and a 200-day moving average of $18.16. Blackstone Mortgage Trust currently has a market capitalization of $3.16 billion, with a price-to-earnings (P/E) ratio of -13.13 and a beta value of 1.50.

Share Buyback Plan

On July 24, the Board of Directors at Blackstone Mortgage Trust approved a share buyback plan allowing the company to repurchase up to $150 million in outstanding shares, equating to about 4.3% of its stock. Such buyback plans often signal that the board perceives the company’s shares to be undervalued.

Insider Trading Activity

In related news, CEO Katharine A. Keenan purchased 16,000 shares at an average price of $17.16 per share on August 5. This purchase amounted to a total value of $274,560, leading to a total ownership of 198,960 shares valued at $3,414,153.60. Likewise, Director Henry N. Nassau bought 10,000 shares at an average price of $17.52 per share. This acquisition, valued at $175,200, increased his holdings to 165,557 shares, equating to approximately $2,900,558.64. The insider transactions showcase the continued interest from company executives in owning shares of the firm's stock.

Company Overview

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

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