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

Blackstone Mortgage Trust (NYSE:BXMT) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $16.00 to $13.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 17.70% from the stock’s current price.

A number of other equities research analysts also recently commented on BXMT. Raymond James Financial downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Weiss Ratings lowered Blackstone Mortgage Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Citigroup reissued a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th. Zacks Research upgraded Blackstone Mortgage Trust from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Wall Street Zen lowered shares of Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and a consensus target price of $18.60.

Blackstone Mortgage Trust Price Performance

Shares of BXMT traded down $0.17 during mid-day trading on Friday, hitting $11.04. The company’s stock had a trading volume of 1,054,958 shares, compared to its average volume of 1,825,867. The firm has a 50-day moving average price of $13.42 and a 200 day moving average price of $16.54. Blackstone Mortgage Trust has a fifty-two week low of $10.78 and a fifty-two week high of $20.67. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 122.83, a PEG ratio of 0.26 and a beta of 0.92.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.10). The business had revenue of $158.06 million for the quarter, compared to analyst estimates of $157.32 million. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. As a group, equities analysts anticipate that Blackstone Mortgage Trust will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at Blackstone Mortgage Trust

In related news, Director Henry Nassau purchased 10,000 shares of Blackstone Mortgage Trust stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $14.34 per share, with a total value of $143,400.00. Following the completion of the transaction, the director directly owned 218,523 shares of the company’s stock, valued at $3,133,619.82. This trade represents a 4.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 3,716 shares of company stock valued at $46,815. 1.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ascentis Independent Advisors acquired a new position in Blackstone Mortgage Trust in the 1st quarter valued at approximately $41,000. Integrated Wealth Concepts LLC purchased a new position in shares of Blackstone Mortgage Trust during the 2nd quarter valued at $39,000. Central Pacific Bank Trust Division grew its holdings in shares of Blackstone Mortgage Trust by 50.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth $82,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Blackstone Mortgage Trust in the second quarter worth $84,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a real estate finance company organized as a real estate investment trust. The company originates and holds senior loans secured by commercial properties, with a focus on institutional-quality assets and experienced real estate sponsors.

Its portfolio primarily consists of floating-rate mortgage loans used to finance acquisitions, refinancings, development and other capital needs for commercial real estate. The properties securing its loans may include office buildings, multifamily communities, hotels, industrial facilities, retail centers and other commercial assets.

Blackstone Mortgage Trust is externally managed by BXMT Advisors L.P., an affiliate of Blackstone.