Pinnacle Financial Partners Inc Sells 3,973 Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

Pinnacle Financial Partners Inc decreased its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 29.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,503 shares of the real estate investment trust’s stock after selling 3,973 shares during the period. Pinnacle Financial Partners Inc’s holdings in Blackstone Mortgage Trust were worth $181,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Park Place Capital Corp bought a new stake in Blackstone Mortgage Trust during the second quarter worth about $26,000. Harbor Capital Advisors Inc. bought a new stake in Blackstone Mortgage Trust during the third quarter worth about $39,000. Versant Capital Management Inc boosted its stake 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 acquiring an additional 871 shares in the last quarter. Wellington Shields & Co. LLC boosted its stake 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 acquiring an additional 2,255 shares in the last quarter. Finally, Covestor Ltd boosted its stake 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 acquiring an additional 1,830 shares in the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Trading Down 1.7 %

Shares of NYSE BXMT opened at $17.86 on Friday. The firm’s 50 day moving average price is $18.70 and its 200-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 plan on Wednesday, July 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

BXMT has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. JMP Securities reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $23.00 target price on shares of Blackstone Mortgage Trust in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.08.

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.