Blackstone Mortgage Trust's (BXMT) Sell (D+) Rating Reiterated at Weiss Ratings

Key Points

• Blackstone Mortgage Trust (BXMT) has received a "sell (D+)" rating from Weiss Ratings, indicating negative sentiment among analysts.
• Institutional investors own 64.15% of BXMT stock, with several firms increasing their holdings during the second quarter of 2023.
• The stock's current average price target is $19.50, with varied ratings from different analysts, including one buy, four holds, and one sell.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report)'s stock had its "sell (d+)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a "market perform" rating on the stock in a research note on Thursday, July 31st. UBS Group raised their price target 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. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Blackstone Mortgage Trust presently has a consensus rating of "Hold" and an average target price of $19.50.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT traded up $0.05 during mid-day trading on Wednesday, hitting $18.39. The stock had a trading volume of 1,568,199 shares, compared to its average volume of 1,434,241. Blackstone Mortgage Trust has a twelve month low of $16.51 and a twelve month high of $21.24. The firm has a market cap of $3.16 billion, a PE ratio of -262.71 and a beta of 1.15. The company has a 50 day moving average of $19.09 and a two-hundred day moving average of $19.13.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,593 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total transaction of $89,517.57. Following the transaction, the chief executive officer owned 230,006 shares of the company's stock, valued at approximately $4,482,816.94. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 8,818 shares of company stock worth $171,190. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Blackstone Mortgage Trust by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,598,933 shares of the real estate investment trust's stock worth $51,979,000 after purchasing an additional 63,953 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Blackstone Mortgage Trust during the 2nd quarter worth approximately $35,101,000. Norges Bank acquired a new stake in Blackstone Mortgage Trust during the 2nd quarter worth approximately $34,608,000. Bamco Inc. NY raised its holdings in Blackstone Mortgage Trust by 1,498.1% during the 2nd quarter. Bamco Inc. NY now owns 1,594,613 shares of the real estate investment trust's stock worth $30,696,000 after buying an additional 1,494,830 shares during the period. Finally, Advisors Capital Management LLC raised its holdings in shares of Blackstone Mortgage Trust by 4.4% in the second quarter. Advisors Capital Management LLC now owns 1,078,886 shares of the real estate investment trust's stock valued at $20,769,000 after purchasing an additional 45,871 shares during the last quarter. 64.15% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.