Blackstone Mortgage Trust (NYSE:BXMT) Raised to Hold at Wall Street Zen

Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on BXMT. Weiss Ratings reissued a “sell (d)” rating on shares of Blackstone Mortgage Trust in a research note on Thursday, October 29th. UBS Group dropped their price target on Blackstone Mortgage Trust from $21.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Wells Fargo & Company dropped their price target on Blackstone Mortgage Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Keefe, Bruyette & Woods cut their price target on Blackstone Mortgage Trust from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Friday, October 30th. Finally, Raymond James Financial downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

Blackstone Mortgage Trust Trading Down 0.1%

NYSE:BXMT opened at $11.15 on Friday. The company’s 50-day moving average price is $11.97 and its 200-day moving average price is $16.51. The company has a market cap of $1.85 billion, a P/E ratio of -5.00, a P/E/G ratio of 0.47 and a beta of 0.90. Blackstone Mortgage Trust has a twelve month low of $10.11 and a twelve month high of $20.67.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. Blackstone Mortgage Trust had a negative net margin of 48.18% and a positive return on equity of 9.17%. The firm had revenue of $141.90 million for the quarter, compared to analyst estimates of $148.60 million. On average, analysts expect that Blackstone Mortgage Trust will post 0.50 earnings per share for the current year.

Insider Activity

In other news, CEO Timothy Johnson acquired 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was purchased at an average cost of $11.50 per share, for a total transaction of $1,035,000.00. Following the completion of the transaction, the chief executive officer owned 617,900 shares in the company, valued at approximately $7,105,850. This trade represents a 17.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Nassau bought 10,000 shares of Blackstone Mortgage Trust stock in a transaction on Wednesday, November 4th. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the purchase, the director directly owned 233,490 shares of the company’s stock, valued at $2,668,790.70. This trade represents a 4.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 3,716 shares of company stock valued at $46,815. 1.18% of the stock is owned by company insiders.

Institutional Trading of Blackstone Mortgage Trust

Several institutional investors have recently made changes to their positions in BXMT. Northside Capital Management LLC purchased a new stake in Blackstone Mortgage Trust in the second quarter valued at $28,000. Central Pacific Bank Trust Division lifted its stake in shares of Blackstone Mortgage Trust by 50.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Blackstone Mortgage Trust in the 2nd quarter valued at $39,000. Ascentis Independent Advisors purchased a new position in shares of Blackstone Mortgage Trust during the 1st quarter worth $41,000. Finally, Covestor Ltd grew its holdings in shares of Blackstone Mortgage Trust by 2,167.3% during the 3rd quarter. Covestor Ltd now owns 5,056 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 4,833 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.