UBS Group Boosts Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $20.00

Blackstone Mortgage Trust (NYSE:BXMT) had its price target lifted by investment analysts at UBS Group from $19.50 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 1.39% from the stock’s previous close.

Several other research firms also recently issued reports on BXMT. JPMorgan Chase & Co. decreased their price target on Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upped their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, July 10th. Finally, JMP Securities restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.58.

Blackstone Mortgage Trust Trading Up 0.2%

Blackstone Mortgage Trust stock opened at $19.73 on Tuesday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -42.88 and a beta of 1.10. The stock has a 50 day moving average of $19.34 and a two-hundred day moving average of $19.13. Blackstone Mortgage Trust has a twelve month low of $16.51 and a twelve month high of $21.24.

Insider Activity at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 6,931 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $19.13, for a total value of $132,590.03. Following the transaction, the chief executive officer owned 236,914 shares of the company’s stock, valued at approximately $4,532,164.82. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry N. Nassau acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $18.90 per share, for a total transaction of $189,000.00. Following the completion of the purchase, the director owned 182,946 shares in the company, valued at $3,457,679.40. This trade represents a 5.78% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 9,248 shares of company stock valued at $177,028 over the last 90 days. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Blackstone Mortgage Trust by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 18,398,374 shares of the real estate investment trust’s stock valued at $320,316,000 after acquiring an additional 63,338 shares in the last quarter. Blackstone Inc. boosted its position in shares of Blackstone Mortgage Trust by 8.2% during the fourth quarter. Blackstone Inc. now owns 8,601,492 shares of the real estate investment trust’s stock valued at $149,752,000 after buying an additional 652,537 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Blackstone Mortgage Trust by 39.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust’s stock valued at $49,315,000 after purchasing an additional 801,083 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Blackstone Mortgage Trust by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,598,933 shares of the real estate investment trust’s stock worth $51,979,000 after buying an additional 63,953 shares during the period. Finally, Norges Bank acquired a new position in shares of Blackstone Mortgage Trust during the fourth quarter worth $35,662,000. 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.