Blackstone Mortgage Trust’s (BXMT) Buy Rating Reaffirmed at BTIG Research

Blackstone Mortgage Trust (NYSE:BXMT)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $23.00 target price on the real estate investment trust’s stock. BTIG Research’s price target would indicate a potential upside of 17.77% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $20.00 to $21.00 in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on Blackstone Mortgage Trust from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone Mortgage Trust has a consensus rating of “Hold” and a consensus target price of $21.00.

Blackstone Mortgage Trust Price Performance

BXMT stock opened at $19.53 on Tuesday. Blackstone Mortgage Trust has a 1-year low of $16.51 and a 1-year high of $21.24. The business has a 50 day simple moving average of $19.63 and a two-hundred day simple moving average of $19.13. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 31.50 and a beta of 1.07.

Insider Activity at Blackstone Mortgage Trust

In related news, President Fernando Austin Pena sold 3,131 shares of Blackstone Mortgage Trust stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $19.24, for a total value of $60,240.44. Following the completion of the transaction, the president owned 78,633 shares in the company, valued at approximately $1,512,898.92. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 5,049 shares of company stock valued at $98,716. 1.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several institutional investors have recently modified their holdings of BXMT. Salomon & Ludwin LLC bought a new position in shares of Blackstone Mortgage Trust in the third quarter worth about $25,000. Jones Financial Companies Lllp boosted its position in 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 during the period. North Capital Inc. bought a new position in Blackstone Mortgage Trust in the 3rd quarter worth about $37,000. ORG Partners LLC purchased a new position in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $41,000. Finally, Advisory Services Network LLC purchased a new position in shares of Blackstone Mortgage Trust during the third quarter worth approximately $46,000. 64.15% of the stock is owned by institutional investors.

Blackstone Mortgage Trust Company Profile

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.