Keefe, Bruyette & Woods Has Lowered Expectations for Blackstone Mortgage Trust (NYSE:BXMT) Stock Price

Key Points

• Analysts at Keefe, Bruyette & Woods have lowered their price target for Blackstone Mortgage Trust from $20.00 to $19.50, indicating a potential upside of 5.92% from the stock's last close.
• The stock currently has an average rating of "Hold" and is influenced by opinions from multiple analysts, including a "neutral" rating from JPMorgan Chase & Co. and a maintained "market perform" from JMP Securities.
• Recent insider trading reveals that CFO Anthony F. Marone Jr. and CEO Katharine A. Keenan sold shares, respectively decreasing their ownership in the company by 2.31% and 2.84%.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price target reduced by analysts at Keefe, Bruyette & Woods from $20.00 to $19.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 3.34% from the stock's previous close.

Several other analysts have also recently issued reports on BXMT. UBS Group upped their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. JMP Securities reaffirmed a "market perform" rating on shares of Blackstone Mortgage Trust in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.00.

Blackstone Mortgage Trust Stock Up 1.2%

BXMT stock traded up $0.23 during midday trading on Thursday, hitting $18.87. The company's stock had a trading volume of 943,408 shares, compared to its average volume of 1,507,975. Blackstone Mortgage Trust has a 12 month low of $16.51 and a 12 month high of $21.24. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -269.57 and a beta of 1.12. The company has a 50 day moving average of $19.34 and a two-hundred day moving average of $19.27.

Insiders Place Their Bets

In other news, Director Henry N. Nassau acquired 10,000 shares of Blackstone Mortgage Trust stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $18.90 per share, for a total transaction of $189,000.00. Following the completion of the purchase, the director directly owned 182,946 shares in the company, valued at $3,457,679.40. This trade represents a 5.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 6,931 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total value of $132,590.03. Following the completion of the transaction, the chief executive officer owned 236,914 shares of the company's stock, valued at approximately $4,532,164.82. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,248 shares of company stock valued at $177,028. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. True North Advisors LLC raised its position in Blackstone Mortgage Trust by 2.2% during the first quarter. True North Advisors LLC now owns 24,509 shares of the real estate investment trust's stock valued at $490,000 after acquiring an additional 516 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 536 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Blackstone Mortgage Trust by 2.1% in the second quarter. Parallel Advisors LLC now owns 43,660 shares of the real estate investment trust's stock worth $840,000 after acquiring an additional 888 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of Blackstone Mortgage Trust by 2.7% in the second quarter. KLP Kapitalforvaltning AS now owns 34,600 shares of the real estate investment trust's stock worth $680,000 after acquiring an additional 900 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Blackstone Mortgage Trust by 5.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,165 shares of the real estate investment trust's stock worth $316,000 after acquiring an additional 967 shares during the last quarter. 64.15% of the stock is currently owned by hedge funds and other institutional investors.

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.