Keefe, Bruyette & Woods Trims Blackstone Mortgage Trust (NYSE:BXMT) Target Price to $18.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $20.50 to $18.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 0.50% from the company’s previous close.

Several other equities analysts have also recently weighed in on BXMT. UBS Group dropped their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $21.00 in a research report on Monday, March 4th. BTIG Research cut their target price on Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. cut their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company cut their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.93.

Blackstone Mortgage Trust Price Performance

BXMT opened at $17.91 on Friday. The business has a fifty day simple moving average of $19.47 and a 200 day simple moving average of $20.57. The company has a market capitalization of $3.11 billion, a PE ratio of 597.00 and a beta of 1.42. Blackstone Mortgage Trust has a 1 year low of $16.83 and a 1 year high of $23.82.

Insider Buying and Selling

In related news, CEO Katharine A. Keenan sold 2,274 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Katharine A. Keenan sold 2,274 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. Insiders sold a total of 5,540 shares of company stock worth $112,642 in the last ninety days. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Large investors have recently bought and sold shares of the company. Central Bank & Trust Co. bought a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $25,000. Cape Investment Advisory Inc. bought a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $42,000. GAMMA Investing LLC bought a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $45,000. Creekmur Asset Management LLC bought a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $51,000. Finally, Sandy Spring Bank raised its position in Blackstone Mortgage Trust by 10,652.0% in the fourth quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 2,663 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors.

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.