Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price target reduced by stock analysts at Keefe, Bruyette & Woods from $20.00 to $19.50 in a research note issued on Thursday,Benzinga reports. The firm currently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 4.61% from the company's previous close.
BXMT has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. JMP Securities reissued a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. Finally, UBS Group lifted 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of "Hold" and a consensus target price of $20.00.
Check Out Our Latest Stock Analysis on Blackstone Mortgage Trust
Blackstone Mortgage Trust Stock Performance
Shares of BXMT stock traded up $0.16 during trading hours on Thursday, hitting $18.64. 1,983,694 shares of the company were exchanged, compared to its average volume of 1,058,067. The firm has a market cap of $3.20 billion, a P/E ratio of -266.29 and a beta of 1.12. Blackstone Mortgage Trust has a fifty-two week low of $16.51 and a fifty-two week high of $21.24. The company has a 50 day simple moving average of $19.34 and a two-hundred day simple moving average of $19.27.
Insiders Place Their Bets
In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of Blackstone Mortgage Trust stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $19.13, for a total transaction of $132,590.03. Following the transaction, the chief executive officer directly owned 236,914 shares of the company's stock, valued at $4,532,164.82. The trade was a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of Blackstone Mortgage Trust stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.20, for a total transaction of $29,126.40. Following the transaction, the chief financial officer directly owned 64,082 shares in the company, valued at $1,230,374.40. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,248 shares of company stock valued at $177,028 in the last three months. 1.02% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Blackstone Mortgage Trust
Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Blackstone Mortgage Trust by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 854,617 shares of the real estate investment trust's stock worth $17,092,000 after purchasing an additional 15,644 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $4,952,000. Norges Bank bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $35,662,000. Janney Montgomery Scott LLC raised its stake in shares of Blackstone Mortgage Trust by 45.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,109 shares of the real estate investment trust's stock worth $422,000 after purchasing an additional 6,571 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $1,326,000. 64.15% of the stock is currently owned by institutional investors.
Blackstone Mortgage Trust Company Profile
(
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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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