Blackstone Mortgage Trust (NYSE:BXMT) PT Lowered to $17.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price target cut by stock analysts at JPMorgan Chase & Co. from $18.50 to $17.50 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 2.32% from the company’s current price.

A number of other brokerages have also commented on BXMT. BTIG Research cut their price target on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. UBS Group cut their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods cut their price target on 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. Wells Fargo & Company dropped their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Bank of America lowered Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $21.00 in a report on Monday, March 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.93.

Blackstone Mortgage Trust Price Performance

Shares of Blackstone Mortgage Trust stock opened at $17.92 on Thursday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 597.17 and a beta of 1.42. The stock’s 50-day moving average is $19.47 and its 200-day moving average is $20.57. Blackstone Mortgage Trust has a one year low of $16.83 and a one year high of $23.82.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the business’s 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 transaction, the chief executive officer now owns 194,298 shares of the company’s stock, valued at $3,967,565.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total value 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 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 90 days. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently made changes to their positions in BXMT. Vanguard Group Inc. grew its position in shares of Blackstone Mortgage Trust by 15.3% in the third quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after purchasing an additional 2,470,412 shares during the last quarter. Norges Bank acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $38,747,000. Principal Financial Group Inc. grew its position 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 valued at $20,187,000 after purchasing an additional 909,838 shares during the last quarter. Blackstone Inc. grew its position 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 valued at $169,074,000 after purchasing an additional 686,881 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted 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 valued at $46,578,000 after buying an additional 669,172 shares during the period. 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.