Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by equities researchers at ValuEngine from a "sell" rating to a "hold" rating in a note issued to investors on Thursday, ValuEngine reports.
A number of other analysts have also recently weighed in on the company. Credit Suisse Group reduced their price target on Blackstone Mortgage Trust from $37.50 to $24.00 and set a "neutral" rating for the company in a research report on Monday, April 27th. Zacks Investment Research cut Blackstone Mortgage Trust from a "buy" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on Blackstone Mortgage Trust from $40.50 to $25.50 and set an "overweight" rating for the company in a research report on Tuesday, April 28th. Deutsche Bank lifted their price objective on Blackstone Mortgage Trust from $25.00 to $26.00 and gave the stock a "hold" rating in a research note on Wednesday, June 17th. Finally, TheStreet lowered Blackstone Mortgage Trust from a "b-" rating to a "c+" rating in a research note on Tuesday, March 24th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus target price of $28.50.
BXMT opened at $23.31 on Thursday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 17.27 and a beta of 1.26. Blackstone Mortgage Trust has a 1 year low of $12.67 and a 1 year high of $40.62. The stock has a fifty day moving average price of $24.25 and a 200 day moving average price of $29.53.
Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.64 earnings per share for the quarter, hitting analysts' consensus estimates of $0.64. Blackstone Mortgage Trust had a return on equity of 8.48% and a net margin of 23.36%. The company had revenue of $100.64 million during the quarter, compared to analysts' expectations of $105.82 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, research analysts forecast that Blackstone Mortgage Trust will post 2.05 earnings per share for the current year.
In related news, President Katharine A. Keenan sold 2,782 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $24.36, for a total transaction of $67,769.52. Following the transaction, the president now directly owns 72,558 shares in the company, valued at $1,767,512.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas N. Armer sold 1,228 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $25.88, for a total value of $31,780.64. Following the transaction, the executive vice president now owns 83,700 shares in the company, valued at $2,166,156. The disclosure for this sale can be found here. Insiders sold 6,066 shares of company stock worth $155,749 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. FSA Wealth Management LLC bought a new position in Blackstone Mortgage Trust during the fourth quarter valued at about $27,000. WASHINGTON TRUST Co bought a new stake in shares of Blackstone Mortgage Trust in the 1st quarter valued at approximately $30,000. EPG Wealth Management LLC grew its stake in shares of Blackstone Mortgage Trust by 88.5% in the 1st quarter. EPG Wealth Management LLC now owns 1,678 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 788 shares during the period. Arden Trust Co bought a new stake in shares of Blackstone Mortgage Trust in the 1st quarter valued at approximately $32,000. Finally, Parallel Advisors LLC grew its stake in shares of Blackstone Mortgage Trust by 162.9% in the 1st quarter. Parallel Advisors LLC now owns 2,442 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,513 shares during the period. Hedge funds and other institutional investors own 57.51% of the company's stock.
Blackstone Mortgage Trust Company Profile
Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.
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