Blackstone Mortgage Trust (NYSE:BXMT) Price Target Raised to $20.00 at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its target price lifted by analysts at Keefe, Bruyette & Woods from $19.50 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target indicates a potential downside of 0.37% from the company's current price.

Other research analysts have also issued research reports about the company. UBS Group reaffirmed a "neutral" rating and set a $19.50 price target (up previously from $19.00) on shares of Blackstone Mortgage Trust in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their target price on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.50.

Blackstone Mortgage Trust Stock Performance

BXMT traded up $0.29 during midday trading on Thursday, reaching $20.08. 192,612 shares of the company were exchanged, compared to its average volume of 1,620,121. Blackstone Mortgage Trust has a one year low of $16.51 and a one year high of $21.24. The stock has a market capitalization of $3.44 billion, a P/E ratio of -43.66 and a beta of 1.10. The stock's 50-day simple moving average is $19.25 and its 200 day simple moving average is $19.07.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total transaction of $132,590.03. Following the completion of the transaction, the chief executive officer directly owned 236,914 shares of the company's stock, valued at approximately $4,532,164.82. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry N. Nassau purchased 10,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $18.90 per share, with a total value of $189,000.00. Following the completion of the acquisition, the director directly owned 182,946 shares of the company's stock, valued at approximately $3,457,679.40. This trade represents a 5.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 9,248 shares of company stock valued at $177,028. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Blackstone Mortgage Trust by 17.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,793 shares of the real estate investment trust's stock worth $730,000 after purchasing an additional 5,415 shares in the last quarter. Parallel Advisors LLC raised its stake in Blackstone Mortgage Trust by 2.1% during the 2nd quarter. Parallel Advisors LLC now owns 43,660 shares of the real estate investment trust's stock valued at $840,000 after buying an additional 888 shares during the last quarter. Strs Ohio purchased a new stake in Blackstone Mortgage Trust during the 1st quarter valued at $650,000. Advisors Capital Management LLC increased its stake in shares of Blackstone Mortgage Trust by 5.8% in the 1st quarter. Advisors Capital Management LLC now owns 1,033,015 shares of the real estate investment trust's stock worth $20,660,000 after purchasing an additional 56,526 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Blackstone Mortgage Trust by 5.0% in the 1st quarter. Intech Investment Management LLC now owns 73,679 shares of the real estate investment trust's stock worth $1,474,000 after purchasing an additional 3,478 shares in the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.

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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