Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $22.00

Blackstone Mortgage Trust (NYSE:BXMT) had its target price lowered by equities research analysts at BTIG Research from $24.00 to $22.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective would indicate a potential upside of 20.02% from the stock’s previous close.

Several other research analysts have also recently weighed in on BXMT. Bank of America cut shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $21.00 in a report on Monday, March 4th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Keefe, Bruyette & Woods lowered their price target on shares of 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. Finally, UBS Group lowered their price target on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust has a consensus rating of “Hold” and a consensus price target of $20.83.

Blackstone Mortgage Trust Stock Up 0.5 %

Blackstone Mortgage Trust stock opened at $18.33 on Wednesday. The stock has a market cap of $3.18 billion, a P/E ratio of 13.00 and a beta of 1.42. Blackstone Mortgage Trust has a twelve month low of $16.83 and a twelve month high of $23.82. The company’s 50-day moving average price is $19.57 and its two-hundred day moving average price is $20.68.

Insider Transactions at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 192,023 shares in the company, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,540 shares of company stock valued at $112,642. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Blackstone Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Blackstone Mortgage Trust by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 54,350 shares of the real estate investment trust’s stock valued at $1,504,000 after buying an additional 389 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its position in Blackstone Mortgage Trust by 4.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 10,753 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 487 shares in the last quarter. Strategic Advisors LLC boosted its position in Blackstone Mortgage Trust by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock valued at $1,772,000 after buying an additional 500 shares in the last quarter. MBM Wealth Consultants LLC boosted its position in Blackstone Mortgage Trust by 5.2% in the third quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 615 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Blackstone Mortgage Trust by 1.4% in the third quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock valued at $1,014,000 after buying an additional 630 shares in the last quarter. 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.