Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $18.50 at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by Keefe, Bruyette & Woods from $19.00 to $18.50 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 3.29% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Wolfe Research raised Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.14.

Blackstone Mortgage Trust Stock Up 2.9 %

Shares of NYSE BXMT traded up $0.51 during mid-day trading on Tuesday, hitting $17.91. 395,039 shares of the company were exchanged, compared to its average volume of 1,912,144. The stock has a 50 day simple moving average of $18.41 and a 200-day simple moving average of $18.37. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $21.50. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -12.88 and a beta of 1.50.

Institutional Trading of Blackstone Mortgage Trust

Large investors have recently bought and sold shares of the company. True North Advisors LLC grew its stake in Blackstone Mortgage Trust by 2.7% in the 3rd quarter. True North Advisors LLC now owns 23,435 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 619 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Blackstone Mortgage Trust by 2.5% in the second quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock valued at $783,000 after purchasing an additional 1,111 shares in the last quarter. Glassy Mountain Advisors Inc. grew its position in shares of Blackstone Mortgage Trust by 2.6% in the third quarter. Glassy Mountain Advisors Inc. now owns 61,445 shares of the real estate investment trust’s stock valued at $1,168,000 after purchasing an additional 1,534 shares during the last quarter. FMR LLC increased its stake in shares of Blackstone Mortgage Trust by 11.4% during the 3rd quarter. FMR LLC now owns 17,812 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 1,827 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth approximately $39,000. 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.