UBS Group Issues Pessimistic Forecast for Blackstone Mortgage Trust (NYSE:BXMT) Stock Price

Key Points

• UBS Group cut Blackstone Mortgage Trust’s price target from $21 to $14 while maintaining a “buy” rating, implying roughly 26.5% upside from the stock’s $11.07 price.
• Analyst sentiment is mixed: BXMT has an average “hold” rating and a consensus price target of $17, with four buys, four holds, and one sell.
• The stock fell 2.1% in Tuesday trading and remains near its 52-week low, despite the company reporting quarterly earnings of $0.38 per share—above the $0.24 consensus estimate.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price target lowered by investment analysts at UBS Group from $21.00 to $14.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. UBS Group's target price suggests a potential upside of 26.50% from the company's current price.

Several other equities analysts have also commented on BXMT. Wall Street Zen lowered Blackstone Mortgage Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Wells Fargo & Company lowered their price objective on shares of Blackstone Mortgage Trust from $22.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone Mortgage Trust from $13.00 to $12.00 and set a "market perform" rating on the stock in a research note on Friday. Citigroup reiterated a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th. Finally, Zacks Research raised shares of Blackstone Mortgage Trust from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Blackstone Mortgage Trust has an average rating of "Hold" and a consensus price target of $17.00.

Blackstone Mortgage Trust Trading Down 2.1%

Shares of BXMT traded down $0.23 during midday trading on Tuesday, reaching $11.07. 788,619 shares of the company were exchanged, compared to its average volume of 1,966,095. The stock has a 50-day moving average price of $12.18 and a 200-day moving average price of $16.67. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -4.97, a P/E/G ratio of 0.24 and a beta of 0.90. Blackstone Mortgage Trust has a 1-year low of $10.11 and a 1-year high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last issued its earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.14. Blackstone Mortgage Trust had a return on equity of 7.72% and a net margin of 1.57%. The company had revenue of $141.90 million during the quarter, compared to the consensus estimate of $148.60 million. Equities research analysts anticipate that Blackstone Mortgage Trust will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in Blackstone Mortgage Trust by 21.9% in the first quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust's stock worth $24,839,000 after purchasing an additional 233,357 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Blackstone Mortgage Trust during the 2nd quarter worth approximately $18,109,000. Principal Financial Group Inc. lifted its holdings in Blackstone Mortgage Trust by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 770,901 shares of the real estate investment trust's stock worth $14,763,000 after buying an additional 19,423 shares during the last quarter. Dupree Financial Group LLC lifted its holdings in Blackstone Mortgage Trust by 85.1% during the 3rd quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust's stock worth $6,834,000 after buying an additional 274,361 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Blackstone Mortgage Trust by 0.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 483,624 shares of the real estate investment trust's stock worth $9,261,000 after acquiring an additional 2,971 shares in the last quarter. Institutional investors and hedge funds own 64.15% of the company's stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.