Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $18.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price target cut by investment analysts at Keefe, Bruyette & Woods from $20.50 to $18.00 in a report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 0.50% from the company’s previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Company cut their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday. UBS Group cut their price target on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. BTIG Research cut their target price on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Bank of America lowered Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $21.00 in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. cut their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Thursday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $19.93.

Blackstone Mortgage Trust Stock Up 1.5 %

Shares of BXMT stock opened at $17.91 on Friday. Blackstone Mortgage Trust has a 12 month low of $16.83 and a 12 month high of $23.82. The firm has a market cap of $3.11 billion, a PE ratio of 597.00 and a beta of 1.42. The stock has a 50 day moving average of $19.47 and a 200-day moving average of $20.57.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the sale, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Insiders sold 5,540 shares of company stock worth $112,642 over the last three months. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

Several large investors have recently made changes to their positions in the business. Glassy Mountain Advisors Inc. grew its holdings in shares of Blackstone Mortgage Trust by 8.0% during the first quarter. Glassy Mountain Advisors Inc. now owns 61,186 shares of the real estate investment trust’s stock worth $1,218,000 after purchasing an additional 4,546 shares during the last quarter. Verity & Verity LLC bought a new stake in shares of Blackstone Mortgage Trust during the first quarter worth $1,705,000. Childress Capital Advisors LLC boosted its holdings in Blackstone Mortgage Trust by 16.4% in the first quarter. Childress Capital Advisors LLC now owns 14,197 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 2,000 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Blackstone Mortgage Trust in the first quarter valued at about $110,000. Finally, Westend Capital Management LLC bought a new position in Blackstone Mortgage Trust in the first quarter valued at about $83,000. Institutional investors 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.