Blackstone Mortgage Trust (NYSE:BXMT) Rating Reiterated by Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT)‘s stock had its “market perform” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a report issued on Tuesday, Benzinga reports. They currently have a $18.00 price objective on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 0.39% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Bank of America lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $21.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price objective on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. UBS Group reduced their price objective on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, BTIG Research cut their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.93.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $17.93 on Tuesday. The firm has a 50 day moving average of $17.85 and a 200 day moving average of $19.59. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 597.67 and a beta of 1.47. Blackstone Mortgage Trust has a 12-month low of $16.70 and a 12-month high of $23.82.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of Blackstone Mortgage Trust stock in a transaction on Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the transaction, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at approximately $3,194,454.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of Blackstone Mortgage Trust stock in a transaction on Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the completion of the transaction, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at approximately $3,194,454.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 4,508 shares of Blackstone Mortgage Trust stock in a transaction on Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the completion of the transaction, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The disclosure for this sale can be found here. Insiders sold 11,057 shares of company stock valued at $191,141 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Blackstone Mortgage Trust by 35.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,096,198 shares of the real estate investment trust’s stock worth $23,316,000 after acquiring an additional 289,643 shares during the last quarter. Norges Bank bought a new stake in shares of Blackstone Mortgage Trust in the 4th quarter worth about $38,747,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter worth about $1,136,000. Vanguard Group Inc. lifted its holdings in Blackstone Mortgage Trust by 15.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after buying an additional 2,470,412 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in Blackstone Mortgage Trust during the 4th quarter valued at about $1,222,000. Institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

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.