Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $20.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by stock analysts at Wells Fargo & Company from $22.00 to $20.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 11.64% from the stock’s previous close.

BXMT has been the topic of several other reports. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $21.00 in a report on Monday, March 4th. Keefe, Bruyette & Woods reduced their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. BTIG Research reduced their price objective on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, UBS Group reduced their price objective on Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.93.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $17.92 on Thursday. The business’s 50 day moving average price is $19.47 and its 200-day moving average price is $20.57. Blackstone Mortgage Trust has a fifty-two week low of $16.83 and a fifty-two week high of $23.82. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 597.17 and a beta of 1.42.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the 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 sale, the chief executive officer now owns 194,298 shares of the company’s stock, valued at approximately $3,967,565.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,540 shares of company stock valued at $112,642. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

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