Analysts Set Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Target Price at $19.93

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.93.

BXMT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their price target on shares of Blackstone Mortgage Trust from $20.50 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company cut their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $21.00 in a research note on Monday, March 4th. UBS Group cut their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research report on Thursday, April 25th.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $17.42 on Wednesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 580.67 and a beta of 1.47. The business has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $19.66. Blackstone Mortgage Trust has a 52 week low of $16.70 and a 52 week high of $23.82.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,259 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total value of $38,493.36. Following the sale, the chief executive officer now owns 189,764 shares in the company, valued at $3,233,578.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Katharine A. Keenan sold 2,259 shares of Blackstone Mortgage Trust stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $17.04, for a total transaction of $38,493.36. Following the sale, the chief executive officer now directly owns 189,764 shares of the company’s stock, valued at $3,233,578.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Katharine A. Keenan sold 2,296 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the sale, the chief executive officer now owns 187,468 shares of the company’s stock, valued at approximately $3,194,454.72. The disclosure for this sale can be found here. Insiders sold a total of 5,547 shares of company stock worth $94,521 over the last three months. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of BXMT. Central Bank & Trust Co. acquired a new stake in Blackstone Mortgage Trust in the 4th quarter valued at $25,000. Cape Investment Advisory Inc. bought a new position in shares of Blackstone Mortgage Trust during the fourth quarter valued at $42,000. GAMMA Investing LLC acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter valued at $45,000. Creekmur Asset Management LLC bought a new stake in shares of Blackstone Mortgage Trust in the 4th quarter worth about $51,000. Finally, Sandy Spring Bank grew its holdings in shares of Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 2,663 shares during the last quarter. Institutional investors 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.