Blackstone Mortgage Trust (NYSE:BXMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “

Several other analysts also recently commented on BXMT. ValuEngine raised shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. TheStreet raised shares of Blackstone Mortgage Trust from a “c+” rating to a “b+” rating in a research report on Wednesday, October 31st. BTIG Research assumed coverage on shares of Blackstone Mortgage Trust in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Citigroup assumed coverage on shares of Blackstone Mortgage Trust in a research report on Friday, October 12th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Credit Suisse Group increased their price objective on shares of Blackstone Mortgage Trust from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average target price of $35.00.

Shares of BXMT stock opened at $35.27 on Wednesday. Blackstone Mortgage Trust has a one year low of $29.51 and a one year high of $35.70. The stock has a market cap of $4.23 billion, a P/E ratio of 15.27, a PEG ratio of 2.65 and a beta of 0.45.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Blackstone Mortgage Trust had a net margin of 50.60% and a return on equity of 9.36%. The company had revenue of $105.15 million for the quarter, compared to the consensus estimate of $97.06 million. During the same period in the prior year, the firm posted $0.69 EPS. As a group, equities analysts predict that Blackstone Mortgage Trust will post 2.64 earnings per share for the current fiscal year.

In related news, Director Leonard W. Cotton purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were purchased at an average price of $33.87 per share, with a total value of $101,610.00. Following the acquisition, the director now directly owns 19,074 shares in the company, valued at approximately $646,036.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Treasurer Douglas N. Armer sold 909 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $34.84, for a total transaction of $31,669.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,417 shares of company stock worth $84,309. Insiders own 0.96% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 2nd quarter valued at about $1,140,000. Botty Investors LLC boosted its holdings in shares of Blackstone Mortgage Trust by 2.4% during the 3rd quarter. Botty Investors LLC now owns 329,341 shares of the real estate investment trust’s stock valued at $11,240,000 after acquiring an additional 7,695 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Blackstone Mortgage Trust by 77.3% during the 2nd quarter. Centaurus Financial Inc. now owns 14,355 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 6,257 shares during the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at about $264,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Blackstone Mortgage Trust by 204.7% during the 2nd quarter. Renaissance Technologies LLC now owns 902,780 shares of the real estate investment trust’s stock valued at $28,374,000 after acquiring an additional 606,500 shares during the last quarter. 64.12% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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