Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $18.50 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced the price target for Blackstone Mortgage Trust from $20.00 to $18.50, maintaining a "neutral" rating on the stock.
• The current consensus rating for Blackstone Mortgage Trust is "Hold," with an average price target of $19.63 among analysts.
• In recent trades, Blackstone Mortgage Trust shares rose slightly by 0.5%, reaching a price of $17.90 with a market cap of $3.07 billion.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its target price cut by research analysts at JPMorgan Chase & Co. from $20.00 to $18.50 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 3.33% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Blackstone Mortgage Trust in a research report on Wednesday, October 8th. UBS Group boosted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a "market perform" rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of "Hold" and an average target price of $19.63.

Blackstone Mortgage Trust Stock Up 0.5%

Shares of BXMT traded up $0.09 during midday trading on Monday, hitting $17.90. The company had a trading volume of 1,343,078 shares, compared to its average volume of 1,446,832. The company's 50 day moving average price is $19.01 and its 200 day moving average price is $19.02. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -255.76 and a beta of 1.15. Blackstone Mortgage Trust has a 52 week low of $16.51 and a 52 week high of $21.24.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total value of $89,517.57. Following the completion of the transaction, the chief executive officer owned 230,006 shares in the company, valued at approximately $4,482,816.94. This represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 8,818 shares of company stock valued at $171,190. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

Institutional investors have recently made changes to their positions in the stock. Institute for Wealth Management LLC. boosted its holdings in shares of Blackstone Mortgage Trust by 6.3% in the third quarter. Institute for Wealth Management LLC. now owns 39,089 shares of the real estate investment trust's stock valued at $720,000 after acquiring an additional 2,324 shares in the last quarter. CWM LLC boosted its holdings in shares of Blackstone Mortgage Trust by 11.4% in the third quarter. CWM LLC now owns 11,712 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 1,199 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Blackstone Mortgage Trust by 56.3% in the third quarter. Private Trust Co. NA now owns 5,544 shares of the real estate investment trust's stock valued at $102,000 after acquiring an additional 1,998 shares in the last quarter. Shikiar Asset Management Inc. boosted its holdings in shares of Blackstone Mortgage Trust by 61.0% in the third quarter. Shikiar Asset Management Inc. now owns 77,900 shares of the real estate investment trust's stock valued at $1,434,000 after acquiring an additional 29,500 shares in the last quarter. Finally, JBR Co Financial Management Inc bought a new position in shares of Blackstone Mortgage Trust in the third quarter valued at approximately $243,000. 64.15% of the stock is owned by institutional investors and hedge funds.

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.

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