Blackstone Mortgage Trust (NYSE:BXMT) Stock Rating Upgraded by Zacks Investment Research

Blackstone Mortgage Trust (NYSE:BXMTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $35.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.76% from the company’s current price.

According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “

Separately, StockNews.com assumed coverage on shares of Blackstone Mortgage Trust in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $34.20.

Shares of NYSE:BXMT traded down $0.49 during trading on Tuesday, reaching $31.04. The stock had a trading volume of 1,795,613 shares, compared to its average volume of 1,478,148. The business has a fifty day moving average price of $31.68 and a 200-day moving average price of $31.63. The stock has a market cap of $5.23 billion, a P/E ratio of 11.29 and a beta of 1.28. Blackstone Mortgage Trust has a fifty-two week low of $29.26 and a fifty-two week high of $34.04.

Blackstone Mortgage Trust (NYSE:BXMTGet Rating) last issued its quarterly earnings results on Wednesday, February 9th. The real estate investment trust reported $0.78 EPS for the quarter, topping the consensus estimate of $0.62 by $0.16. Blackstone Mortgage Trust had a net margin of 55.31% and a return on equity of 8.72%. During the same quarter last year, the business earned $0.54 earnings per share. Equities analysts anticipate that Blackstone Mortgage Trust will post 2.33 earnings per share for the current fiscal year.

In other news, CEO Katharine A. Keenan sold 992 shares of the firm’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $32.03, for a total transaction of $31,773.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Katharine A. Keenan sold 1,173 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $31.31, for a total transaction of $36,726.63. The disclosure for this sale can be found here. Insiders sold a total of 4,337 shares of company stock valued at $136,712 in the last quarter. 1.06% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of BXMT. DekaBank Deutsche Girozentrale acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth about $25,000. Dark Forest Capital Management LP acquired a new position in shares of Blackstone Mortgage Trust in the third quarter worth about $33,000. Marshall Wace North America L.P. acquired a new position in shares of Blackstone Mortgage Trust in the first quarter worth about $55,000. MBM Wealth Consultants LLC acquired a new position in shares of Blackstone Mortgage Trust in the fourth quarter worth about $52,000. Finally, Covestor Ltd purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter worth approximately $60,000. Institutional investors own 53.34% of the company’s stock.

About Blackstone Mortgage Trust (Get Rating)

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial 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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