Zacks Investment Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a hold rating to a buy rating in a report published on Tuesday. They currently have $37.00 price target on the real estate investment trust’s stock.

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. “

Separately, ValuEngine downgraded shares of Blackstone Mortgage Trust from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Blackstone Mortgage Trust has an average rating of Hold and a consensus target price of $34.00.

BXMT stock opened at $33.80 on Tuesday. Blackstone Mortgage Trust has a 52 week low of $29.51 and a 52 week high of $33.81. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.58 and a beta of 0.44.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.24. Blackstone Mortgage Trust had a net margin of 49.22% and a return on equity of 9.24%. The company had revenue of $103.75 million for the quarter, compared to the consensus estimate of $89.07 million. During the same period in the previous year, the firm earned $0.60 EPS. Blackstone Mortgage Trust’s revenue was up 43.1% on a year-over-year basis. sell-side analysts anticipate that Blackstone Mortgage Trust will post 2.56 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. LDR Capital Management LLC bought a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter worth approximately $20,470,000. Renaissance Technologies LLC raised its holdings in shares of Blackstone Mortgage Trust by 204.7% in the 2nd quarter. Renaissance Technologies LLC now owns 902,780 shares of the real estate investment trust’s stock worth $28,374,000 after purchasing an additional 606,500 shares in the last quarter. Delphi Financial Group Inc. bought a new stake in shares of Blackstone Mortgage Trust in the 1st quarter worth approximately $16,910,000. Boston Partners raised its holdings in shares of Blackstone Mortgage Trust by 52.8% in the 1st quarter. Boston Partners now owns 1,273,555 shares of the real estate investment trust’s stock worth $40,016,000 after purchasing an additional 440,102 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Blackstone Mortgage Trust by 166.3% in the 2nd quarter. Acadian Asset Management LLC now owns 672,088 shares of the real estate investment trust’s stock worth $21,125,000 after purchasing an additional 419,697 shares in the last quarter. Institutional investors and hedge funds own 55.11% of the company’s stock.

About Blackstone Mortgage Trust

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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