Keefe, Bruyette & Woods Has Lowered Expectations for Blackstone Mortgage Trust (NYSE:BXMT) Stock Price

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by Keefe, Bruyette & Woods from $20.50 to $20.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 14.74% from the company’s current price.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Zacks Research lowered shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings lowered Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. Finally, UBS Group began coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT traded up $0.08 during midday trading on Friday, hitting $17.43. 747,404 shares of the company traded hands, compared to its average volume of 1,464,421. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 28.58 and a beta of 0.89. The firm has a 50 day moving average of $18.63 and a 200-day moving average of $19.13. Blackstone Mortgage Trust has a 52 week low of $17.11 and a 52 week high of $20.67.

Insider Buying and Selling

In related news, President Fernando Austin Pena sold 1,666 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $18.88, for a total transaction of $31,454.08. Following the transaction, the president directly owned 76,967 shares in the company, valued at $1,453,136.96. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Elevation Point Wealth Partners LLC lifted its holdings in shares of Blackstone Mortgage Trust by 2.2% in the fourth quarter. Elevation Point Wealth Partners LLC now owns 24,602 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 525 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Blackstone Mortgage Trust by 45.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 536 shares in the last quarter. Kennicott Capital Management LLC lifted its stake in shares of Blackstone Mortgage Trust by 2.6% in the fourth quarter. Kennicott Capital Management LLC now owns 36,450 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 921 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Blackstone Mortgage Trust by 0.4% in the third quarter. California Public Employees Retirement System now owns 249,450 shares of the real estate investment trust’s stock worth $4,592,000 after acquiring an additional 976 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Blackstone Mortgage Trust by 19.8% in the 4th quarter. Sound Income Strategies LLC now owns 6,152 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 1,015 shares during the period. 64.15% of the stock is owned by institutional investors and hedge funds.

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.