Blackstone Mortgage Trust (NYSE:BXMT) Given New $19.00 Price Target at JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by research analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.23% from the stock’s current price.

Several other equities research analysts also recently commented on BXMT. Weiss Ratings downgraded shares of Blackstone Mortgage Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set an “outperform” rating for the company in a report on Friday, June 26th. UBS Group started coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Zacks Research downgraded Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Blackstone Mortgage Trust presently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Blackstone Mortgage Trust Trading Up 1.6%

Blackstone Mortgage Trust stock opened at $17.39 on Friday. The firm has a market capitalization of $2.93 billion, a P/E ratio of 28.52 and a beta of 0.90. The business has a 50-day moving average of $17.86 and a 200-day moving average of $18.82. Blackstone Mortgage Trust has a 1 year low of $16.72 and a 1 year high of $20.67.

Insider Activity at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 1,670 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $17.07, for a total value of $28,506.90. Following the sale, the president owned 72,899 shares of the company’s stock, valued at $1,244,385.93. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,420 shares of company stock valued at $95,233 over the last 90 days. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Blackstone Mortgage Trust by 36.7% in the third quarter. JPMorgan Chase & Co. now owns 578,444 shares of the real estate investment trust’s stock valued at $10,649,000 after acquiring an additional 155,421 shares during the last quarter. SG Americas Securities LLC boosted its position in Blackstone Mortgage Trust by 2,836.1% during the fourth quarter. SG Americas Securities LLC now owns 214,626 shares of the real estate investment trust’s stock valued at $4,106,000 after purchasing an additional 207,316 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Blackstone Mortgage Trust by 103.3% in the fourth quarter. Apollon Wealth Management LLC now owns 86,573 shares of the real estate investment trust’s stock valued at $1,656,000 after purchasing an additional 43,996 shares in the last quarter. Shikiar Asset Management Inc. grew its stake in Blackstone Mortgage Trust by 96.4% in the first quarter. Shikiar Asset Management Inc. now owns 174,700 shares of the real estate investment trust’s stock valued at $3,346,000 after purchasing an additional 85,750 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth approximately $1,346,000. Institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.