Blackstone Mortgage Trust (NYSE:BXMT) Price Target Raised to $20.00 at UBS Group

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price objective raised by stock analysts at UBS Group from $19.50 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's target price would suggest a potential upside of 1.96% from the company's previous close.

Several other research firms have also commented on BXMT. JPMorgan Chase & Co. cut their price objective on Blackstone Mortgage Trust from $20.00 to $18.50 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods boosted their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the stock a "market perform" rating in a research note on Thursday, July 10th. Finally, JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Blackstone Mortgage Trust has an average rating of "Hold" and a consensus price target of $20.58.

Blackstone Mortgage Trust Trading Down 0.5%

NYSE:BXMT traded down $0.11 during trading hours on Tuesday, hitting $19.62. 433,561 shares of the stock were exchanged, compared to its average volume of 1,590,590. Blackstone Mortgage Trust has a 52-week low of $16.51 and a 52-week high of $21.24. The firm's fifty day moving average price is $19.34 and its 200 day moving average price is $19.13. The company has a market cap of $3.37 billion, a P/E ratio of -42.66 and a beta of 1.10.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was 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 in the company, valued at $4,532,164.82. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony F. Marone, Jr. sold 1,517 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $19.20, for a total value of $29,126.40. Following the completion of the sale, the chief financial officer owned 64,082 shares in the company, valued at approximately $1,230,374.40. The trade was 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 worth $177,028 over the last ninety days. Corporate insiders own 1.02% of the company's stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Large investors have recently bought and sold shares of the business. SVB Wealth LLC purchased a new position in Blackstone Mortgage Trust in the first quarter valued at $29,000. Jones Financial Companies Lllp increased its holdings in 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 during the last quarter. Rossby Financial LCC purchased a new position in Blackstone Mortgage Trust in the first quarter valued at $49,000. GAMMA Investing LLC increased its holdings in Blackstone Mortgage Trust by 187.8% in the first quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 1,944 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Blackstone Mortgage Trust by 1,672.9% in the fourth quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 2,844 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company's stock.

About Blackstone Mortgage Trust

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.