Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $22.00 by Analysts at BTIG Research

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective lowered by stock analysts at BTIG Research from $24.00 to $22.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective suggests a potential upside of 19.96% from the stock’s current price.

BXMT has been the topic of several other research reports. UBS Group decreased their target price on Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $21.00 in a research note on Monday, March 4th. JPMorgan Chase & Co. decreased their target price on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods decreased their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and a consensus price target of $20.83.

Blackstone Mortgage Trust Trading Up 0.5 %

BXMT traded up $0.09 on Wednesday, hitting $18.34. 981,301 shares of the company’s stock traded hands, compared to its average volume of 2,111,732. The company’s 50 day simple moving average is $19.58 and its 200-day simple moving average is $20.71. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 13.02 and a beta of 1.42. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the completion of the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock valued at $112,642 in the last quarter. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Blackstone Mortgage Trust by 0.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 54,350 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 389 shares during the period. Metropolitan Life Insurance Co NY boosted its holdings in shares of Blackstone Mortgage Trust by 4.7% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 10,753 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 487 shares during the period. Strategic Advisors LLC boosted its holdings in Blackstone Mortgage Trust by 0.6% during the 4th quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock valued at $1,772,000 after acquiring an additional 500 shares during the period. MBM Wealth Consultants LLC boosted its holdings in Blackstone Mortgage Trust by 5.2% during the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 615 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Blackstone Mortgage Trust by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock valued at $1,014,000 after acquiring an additional 630 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company 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.