PNC Financial Services Group Inc. Cuts Holdings in Blackstone Mortgage Trust, Inc. (NYSE:BXMT)

PNC Financial Services Group Inc. lowered its stake in shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,234 shares of the real estate investment trust’s stock after selling 3,036 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Blackstone Mortgage Trust were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Transcend Capital Advisors LLC raised its holdings in Blackstone Mortgage Trust by 160.0% during the second quarter. Transcend Capital Advisors LLC now owns 69,264 shares of the real estate investment trust’s stock worth $1,207,000 after purchasing an additional 42,623 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Blackstone Mortgage Trust in the 2nd quarter valued at $10,656,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in Blackstone Mortgage Trust in the second quarter valued at approximately $3,061,000. Gabelli Funds LLC lifted its stake in shares of Blackstone Mortgage Trust by 30.1% in the second quarter. Gabelli Funds LLC now owns 237,500 shares of the real estate investment trust’s stock worth $4,137,000 after acquiring an additional 55,000 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Blackstone Mortgage Trust in the third quarter valued at about $24,103,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company boosted their target price 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.08.

Blackstone Mortgage Trust Price Performance

NYSE BXMT opened at $19.24 on Thursday. Blackstone Mortgage Trust, Inc. has a fifty-two week low of $16.53 and a fifty-two week high of $23.29. The stock’s 50-day moving average is $18.67 and its two-hundred day moving average is $18.22. The firm has a market cap of $3.33 billion, a P/E ratio of -13.84 and a beta of 1.50.

About Blackstone Mortgage Trust

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.