BTIG Research Trims Blackstone Mortgage Trust (NYSE:BXMT) Target Price to $22.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price target cut by investment analysts at BTIG Research from $24.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective points to a potential upside of 20.02% from the stock’s previous close.

A number of other research firms have also recently issued reports on BXMT. Keefe, Bruyette & Woods dropped their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. Bank of America cut shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $21.00 in a research note on Monday, March 4th. UBS Group dropped their price target on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.83.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $18.33 on Wednesday. The company’s fifty day moving average price is $19.57 and its 200 day moving average price is $20.68. Blackstone Mortgage Trust has a 1 year low of $16.83 and a 1 year high of $23.82. The stock has a market capitalization of $3.18 billion, a P/E ratio of 13.00 and a beta of 1.42.

Insiders Place Their Bets

In other news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Katharine A. Keenan sold 2,274 shares of Blackstone Mortgage Trust stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value 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 a total of 5,540 shares of company stock valued at $112,642 in the last 90 days. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BXMT. Central Bank & Trust Co. purchased a new stake in Blackstone Mortgage Trust in the 4th quarter valued at about $25,000. Versant Capital Management Inc increased its stake in Blackstone Mortgage Trust by 447.5% during the third quarter. Versant Capital Management Inc now owns 1,336 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,092 shares during the period. Coppell Advisory Solutions LLC purchased a new stake in Blackstone Mortgage Trust during the second quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Blackstone Mortgage Trust during the third quarter worth about $37,000. Finally, Cape Investment Advisory Inc. purchased a new stake in Blackstone Mortgage Trust during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.