Blackstone Mortgage Trust (NYSE:BXMT) Given New $20.00 Price Target at Wells Fargo & Company

Blackstone Mortgage Trust (NYSE:BXMT) had its price target cut by stock analysts at Wells Fargo & Company from $22.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.68% from the company’s current price.

BXMT has been the subject of a number of other reports. UBS Group cut their price target on Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Bank of America lowered Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $21.00 in a report on Monday, March 4th. BTIG Research cut their price target 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.71.

Blackstone Mortgage Trust Price Performance

BXMT traded down $0.18 on Thursday, hitting $18.07. The company had a trading volume of 472,847 shares, compared to its average volume of 2,127,472. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 12.82 and a beta of 1.42. The company’s fifty day moving average price is $19.56 and its 200 day moving average price is $20.62. Blackstone Mortgage Trust has a 1-year low of $16.83 and a 1-year high of $23.82.

Insider Activity

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Katharine A. Keenan sold 2,274 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at $3,967,565.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,540 shares of company stock worth $112,642. 1.02% of the stock is owned by company insiders.

Institutional Trading of Blackstone Mortgage Trust

A number of institutional investors have recently made changes to their positions in the stock. Verity & Verity LLC bought a new stake in Blackstone Mortgage Trust during the first quarter valued at about $1,705,000. Childress Capital Advisors LLC raised its stake in Blackstone Mortgage Trust by 16.4% during the 1st quarter. Childress Capital Advisors LLC now owns 14,197 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 2,000 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Blackstone Mortgage Trust in the 1st quarter worth approximately $110,000. Westend Capital Management LLC bought a new position in Blackstone Mortgage Trust in the 1st quarter worth approximately $83,000. Finally, True North Advisors LLC purchased a new stake in Blackstone Mortgage Trust during the 1st quarter valued at approximately $442,000. Hedge funds and other 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.