Blackstone Mortgage Trust (NYSE:BXMT) Given New $22.00 Price Target at BTIG Research

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price objective reduced by stock analysts at BTIG Research from $24.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. BTIG Research's target price suggests a potential upside of 20.68% from the company's current price.

A number of other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a "market perform" rating on the stock in a research report on Wednesday, April 10th. Bank of America cut Blackstone Mortgage Trust from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $22.00 to $21.00 in a report on Monday, March 4th. JPMorgan Chase & Co. lowered their price target on Blackstone Mortgage Trust from $19.00 to $18.50 and set a "neutral" rating on the stock in a report on Wednesday, April 10th. Finally, UBS Group reduced their price objective on Blackstone Mortgage Trust from $21.50 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of "Hold" and an average price target of $20.83.

Blackstone Mortgage Trust Stock Down 0.1 %

NYSE:BXMT traded down $0.02 on Wednesday, hitting $18.23. The stock had a trading volume of 1,516,988 shares, compared to its average volume of 2,120,531. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 13.02 and a beta of 1.42. The business's 50-day simple moving average is $19.58 and its two-hundred day simple moving average is $20.71. Blackstone Mortgage Trust has a 52-week low of $16.83 and a 52-week high of $23.82.

Insiders Place Their Bets

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

Institutional Trading of Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Blackstone Mortgage Trust by 15.3% during the third quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust's stock worth $405,492,000 after purchasing an additional 2,470,412 shares in the last quarter. Blackstone Inc. boosted its position in Blackstone Mortgage Trust by 9.5% during the fourth quarter. Blackstone Inc. now owns 7,948,955 shares of the real estate investment trust's stock worth $169,074,000 after purchasing an additional 686,881 shares in the last quarter. State Street Corp boosted its position in Blackstone Mortgage Trust by 0.3% during the second quarter. State Street Corp now owns 3,787,010 shares of the real estate investment trust's stock worth $81,136,000 after purchasing an additional 12,582 shares in the last quarter. Geode Capital Management LLC boosted its position in Blackstone Mortgage Trust by 17.2% during the first quarter. Geode Capital Management LLC now owns 3,723,675 shares of the real estate investment trust's stock worth $66,468,000 after purchasing an additional 545,134 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Blackstone Mortgage Trust by 25.0% during the first quarter. Bank of America Corp DE now owns 3,277,188 shares of the real estate investment trust's stock worth $58,498,000 after purchasing an additional 656,329 shares in the last quarter. 64.15% of the stock is owned by institutional investors and hedge funds.

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.