Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $18.00 at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its price target dropped by stock analysts at Keefe, Bruyette & Woods from $20.50 to $18.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 1.15% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BTIG Research reduced their price target on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. 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. UBS Group cut their target price on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. cut their target price on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.93.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT traded up $0.56 during mid-day trading on Friday, hitting $18.21. 725,629 shares of the company’s stock were exchanged, compared to its average volume of 2,155,579. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 605.67 and a beta of 1.42. Blackstone Mortgage Trust has a fifty-two week low of $16.83 and a fifty-two week high of $23.82. The stock’s 50-day moving average is $19.51 and its 200-day moving average is $20.60.

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, 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 SEC, which is available through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. Insiders have sold 5,540 shares of company stock valued at $112,642 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BXMT. Vanguard Group Inc. grew its stake in Blackstone Mortgage Trust by 15.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock worth $405,492,000 after buying an additional 2,470,412 shares during the last quarter. Norges Bank bought a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth $38,747,000. Principal Financial Group Inc. grew its stake in shares of 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 worth $20,187,000 after purchasing an additional 909,838 shares in the last quarter. Blackstone Inc. grew its stake in shares of Blackstone Mortgage Trust by 9.5% in 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. Finally, Ameriprise Financial Inc. grew its stake in shares of Blackstone Mortgage Trust by 45.5% in the third quarter. Ameriprise Financial Inc. now owns 2,141,173 shares of the real estate investment trust’s stock worth $46,578,000 after purchasing an additional 669,172 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

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.