Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $18.00 at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its price target reduced by equities researchers at Keefe, Bruyette & Woods from $20.50 to $18.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 1.15% from the stock’s current price.

Several other research analysts have also weighed in on the stock. UBS Group lowered their price objective on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $21.00 in a report on Monday, March 4th. BTIG Research reduced their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Wells Fargo & Company lowered their target price on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Blackstone Mortgage Trust has an average rating of “Hold” and a consensus target price of $19.93.

Blackstone Mortgage Trust Price Performance

BXMT stock traded up $0.56 during midday trading on Friday, hitting $18.21. The company’s stock had a trading volume of 725,629 shares, compared to its average volume of 2,155,579. Blackstone Mortgage Trust has a twelve month low of $16.83 and a twelve month high of $23.82. The company’s fifty day moving average price is $19.51 and its 200 day moving average price is $20.60. The stock has a market capitalization of $3.16 billion, a P/E ratio of 605.67 and a beta of 1.42.

Insider Activity at Blackstone Mortgage Trust

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

Hedge Funds Weigh In On Blackstone Mortgage Trust

Hedge funds have recently modified their holdings of the business. Central Bank & Trust Co. acquired a new position in shares of Blackstone Mortgage Trust during the fourth quarter worth $25,000. Cape Investment Advisory Inc. acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at $42,000. GAMMA Investing LLC acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at $45,000. Creekmur Asset Management LLC bought a new stake in Blackstone Mortgage Trust in the fourth quarter valued at $51,000. Finally, Sandy Spring Bank increased its stake in Blackstone Mortgage Trust by 10,652.0% in the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 2,663 shares in the last quarter. Institutional investors and hedge funds 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.