Keefe, Bruyette & Woods Trims Blackstone Mortgage Trust (NYSE:BXMT) Target Price to $20.50

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $21.00 to $20.50 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 10.04% from the stock's current price.

BXMT has been the topic of a number of other reports. UBS Group cut their price target on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 20th. Bank of America cut shares of Blackstone Mortgage Trust from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a "neutral" rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Blackstone Mortgage Trust has a consensus rating of "Hold" and an average price target of $21.17.

Blackstone Mortgage Trust Stock Down 4.6 %

Shares of Blackstone Mortgage Trust stock traded down $0.90 during trading on Wednesday, reaching $18.63. 4,104,339 shares of the company were exchanged, compared to its average volume of 2,122,197. The business has a 50-day moving average price of $19.66 and a 200-day moving average price of $20.83. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.35 and a beta of 1.42. Blackstone Mortgage Trust has a twelve month low of $16.75 and a twelve month high of $23.82.

Insiders Place Their Bets

In related news, CEO Katharine A. Keenan sold 2,275 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company's stock, valued at $3,888,465.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Katharine A. Keenan sold 2,274 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the sale, the chief executive officer now directly owns 192,023 shares of the company's stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock valued at $112,642 in the last quarter. 1.02% of the stock is currently owned by insiders.

Institutional Trading of Blackstone Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Blackstone Mortgage Trust by 15.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust's stock valued at $405,492,000 after purchasing an additional 2,470,412 shares during the period. Norges Bank bought a new stake in Blackstone Mortgage Trust in the fourth quarter valued at approximately $38,747,000. Principal Financial Group Inc. raised its stake in Blackstone Mortgage Trust by 4,968.8% in the third quarter. Principal Financial Group Inc. now owns 928,149 shares of the real estate investment trust's stock valued at $20,187,000 after buying an additional 909,838 shares during the period. Millennium Management LLC lifted its position in shares of Blackstone Mortgage Trust by 308.3% in the fourth quarter. Millennium Management LLC now owns 1,143,826 shares of the real estate investment trust's stock valued at $24,215,000 after buying an additional 863,715 shares during the last quarter. Finally, Blackstone Inc. increased its holdings in shares of Blackstone Mortgage Trust by 9.5% during the 4th quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust's stock worth $169,074,000 after acquiring an additional 686,881 shares during the last quarter. 64.15% of the stock is owned by 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.