JPMorgan Chase & Co. Has Lowered Expectations for Blackstone Mortgage Trust (NYSE:BXMT) Stock Price

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by research analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 4.80% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, BTIG Research reiterated a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a research report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.13.

Blackstone Mortgage Trust Trading Up 0.5%

BXMT stock opened at $19.08 on Thursday. The firm’s 50-day moving average is $19.28 and its two-hundred day moving average is $19.23. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 31.29 and a beta of 0.92. Blackstone Mortgage Trust has a 52 week low of $17.67 and a 52 week high of $20.67.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 1,666 shares of Blackstone Mortgage Trust stock in a transaction dated 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 owned 76,967 shares of the company’s stock, valued at $1,453,136.96. The trade was a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Blackstone Mortgage Trust by 36.7% during the third quarter. JPMorgan Chase & Co. now owns 578,444 shares of the real estate investment trust’s stock worth $10,649,000 after acquiring an additional 155,421 shares in the last quarter. Bright Futures Wealth Management LLC. purchased a new position in Blackstone Mortgage Trust in the third quarter valued at about $2,991,000. Bamco Inc. NY increased its position in Blackstone Mortgage Trust by 6.4% in the 3rd quarter. Bamco Inc. NY now owns 1,696,314 shares of the real estate investment trust’s stock worth $31,229,000 after purchasing an additional 101,701 shares during the last quarter. Van ECK Associates Corp increased its position in Blackstone Mortgage Trust by 9.0% in the 3rd quarter. Van ECK Associates Corp now owns 865,464 shares of the real estate investment trust’s stock worth $15,933,000 after purchasing an additional 71,584 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Blackstone Mortgage Trust by 2,836.1% during the 4th quarter. SG Americas Securities LLC now owns 214,626 shares of the real estate investment trust’s stock worth $4,106,000 after purchasing an additional 207,316 shares in the last quarter. 64.15% of the stock is owned by hedge funds and other institutional investors.

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.