Zacks Investment Research Upgrades Capital Trust, Inc. (BXMT) to “Hold”
Capital Trust, Inc. (NYSE:BXMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
A number of other analysts have also recently weighed in on BXMT. BidaskClub upgraded Capital Trust from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Capital Trust in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.00.
Capital Trust (BXMT) opened at 31.40 on Thursday. The company’s 50-day moving average price is $31.08 and its 200 day moving average price is $31.04. Capital Trust has a 52 week low of $27.89 and a 52 week high of $32.47. The stock has a market capitalization of $2.98 billion, a P/E ratio of 13.50 and a beta of 0.80.
Capital Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). Capital Trust had a net margin of 55.05% and a return on equity of 8.76%. The business had revenue of $72.47 million during the quarter, compared to analyst estimates of $74.82 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities research analysts expect that Capital Trust will post $2.48 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new position in shares of Capital Trust during the first quarter worth about $202,000. Stephens Inc. AR grew its holdings in shares of Capital Trust by 43.6% during the first quarter. Stephens Inc. AR now owns 33,738 shares of the real estate investment trust’s stock worth $1,045,000 after purchasing an additional 10,248 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Capital Trust by 91.4% during the first quarter. Legal & General Group Plc now owns 16,665 shares of the real estate investment trust’s stock worth $516,000 after purchasing an additional 7,957 shares during the last quarter. Green Square Capital LLC grew its holdings in shares of Capital Trust by 6.7% during the first quarter. Green Square Capital LLC now owns 7,450 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 465 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Capital Trust by 1,288,745.4% during the first quarter. BlackRock Inc. now owns 4,175,859 shares of the real estate investment trust’s stock worth $129,284,000 after purchasing an additional 4,175,535 shares during the last quarter. 61.26% of the stock is currently owned by institutional investors.
Capital Trust Company Profile
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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