Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $19.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective reduced by stock analysts at UBS Group from $21.00 to $19.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target points to a potential upside of 5.73% from the company’s current price.

Several other brokerages have also commented on BXMT. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. BTIG Research cut their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their target price on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Bank of America downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $21.00 in a report on Monday, March 4th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.43.

Blackstone Mortgage Trust Stock Performance

Shares of Blackstone Mortgage Trust stock traded down $0.28 during trading on Thursday, hitting $17.97. 1,006,496 shares of the company’s stock were exchanged, compared to its average volume of 2,133,480. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.74 and a beta of 1.42. The business has a 50-day simple moving average of $19.56 and a 200-day simple moving average of $20.62. Blackstone Mortgage Trust has a 52-week low of $16.83 and a 52-week high of $23.82.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The sale was disclosed in a filing with the SEC, which is available at this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction 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 $3,888,465.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katharine A. Keenan sold 2,274 shares of the 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 completion of the sale, the chief executive officer now directly owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock valued at $112,642 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. Central Bank & Trust Co. acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter worth $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter worth $42,000. GAMMA Investing LLC acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter worth $45,000. Creekmur Asset Management LLC acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter worth $51,000. Finally, Sandy Spring Bank grew its stake in shares of Blackstone Mortgage Trust by 10,652.0% in the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 2,663 shares during the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

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.