Zacks Investment Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The firm currently has $39.00 target price 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. “

A number of other analysts also recently weighed in on BXMT. BTIG Research initiated coverage on Blackstone Mortgage Trust in a report on Monday, October 8th. They set a neutral rating for the company. Citigroup initiated coverage on Blackstone Mortgage Trust in a report on Friday, October 12th. They set a neutral rating and a $33.00 price target for the company. ValuEngine upgraded Blackstone Mortgage Trust from a hold rating to a buy rating in a report on Wednesday, October 24th. TheStreet upgraded Blackstone Mortgage Trust from a c+ rating to a b+ rating in a report on Wednesday, October 31st. Finally, Credit Suisse Group increased their price target on Blackstone Mortgage Trust from $33.00 to $35.00 and gave the stock an outperform rating in a report on Tuesday, August 21st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Blackstone Mortgage Trust presently has a consensus rating of Buy and an average target price of $35.00.

Shares of BXMT opened at $34.94 on Friday. Blackstone Mortgage Trust has a 52 week low of $29.51 and a 52 week high of $35.42. The firm has a market capitalization of $4.23 billion, a PE ratio of 15.13, a PEG ratio of 2.65 and a beta of 0.46.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Blackstone Mortgage Trust had a return on equity of 9.36% and a net margin of 50.60%. The company had revenue of $105.15 million during the quarter, compared to analysts’ expectations of $97.06 million. During the same period in the prior year, the company earned $0.69 EPS. On average, sell-side analysts predict that Blackstone Mortgage Trust will post 2.64 earnings per share for the current fiscal year.

In other news, Treasurer Douglas N. Armer sold 909 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $34.84, for a total value of $31,669.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Douglas N. Armer sold 803 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $34.00, for a total value of $27,302.00. Following the completion of the sale, the treasurer now owns 62,196 shares of the company’s stock, valued at $2,114,664. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,413 shares of company stock valued at $83,123. Company insiders own 0.96% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at about $101,000. Qube Research & Technologies Ltd acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at about $143,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at about $157,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Blackstone Mortgage Trust in the 3rd quarter valued at about $190,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Blackstone Mortgage Trust by 1,328.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,055 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 5,631 shares during the period. Institutional investors own 64.05% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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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