Bank of America assumed coverage on shares of Blackstone Mortgage Trust (NYSE:BXMT) in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $36.00 target price on the real estate investment trust’s stock.

BXMT has been the topic of several other research reports. Compass Point assumed coverage on shares of Blackstone Mortgage Trust in a research note on Monday, December 2nd. They issued a neutral rating and a $36.00 price objective on the stock. Zacks Investment Research raised shares of Blackstone Mortgage Trust from a sell rating to a hold rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and an average price target of $36.63.

NYSE:BXMT opened at $36.76 on Friday. Blackstone Mortgage Trust has a fifty-two week low of $30.84 and a fifty-two week high of $36.85. The stock’s 50-day moving average is $36.15 and its two-hundred day moving average is $35.81. The stock has a market cap of $4.94 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 3.05 and a beta of 0.51.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $101.92 million during the quarter, compared to analyst estimates of $105.80 million. Blackstone Mortgage Trust had a net margin of 39.30% and a return on equity of 8.70%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Sell-side analysts forecast that Blackstone Mortgage Trust will post 2.41 EPS for the current year.

In other news, EVP Douglas N. Armer sold 915 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $35.92, for a total transaction of $32,866.80. Following the completion of the sale, the executive vice president now directly owns 69,048 shares of the company’s stock, valued at approximately $2,480,204.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas N. Armer sold 869 shares of Blackstone Mortgage Trust stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.99, for a total value of $31,275.31. Following the sale, the executive vice president now owns 69,048 shares of the company’s stock, valued at $2,485,037.52. The disclosure for this sale can be found here. Insiders sold 2,795 shares of company stock worth $100,524 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BXMT. Marshall Wace North America L.P. bought a new stake in shares of Blackstone Mortgage Trust during the 1st quarter worth about $55,000. Strs Ohio lifted its holdings in Blackstone Mortgage Trust by 11.6% in the 2nd quarter. Strs Ohio now owns 33,700 shares of the real estate investment trust’s stock worth $1,199,000 after purchasing an additional 3,500 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in Blackstone Mortgage Trust during the second quarter worth approximately $77,000. Steward Partners Investment Advisory LLC boosted its position in Blackstone Mortgage Trust by 19.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 13,000 shares of the real estate investment trust’s stock worth $462,000 after purchasing an additional 2,157 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its position in Blackstone Mortgage Trust by 4.8% during the second quarter. Virginia Retirement Systems ET AL now owns 21,700 shares of the real estate investment trust’s stock worth $772,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 58.73% 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, Europe, and Australia. 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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