Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $18.00 at UBS Group

Blackstone Mortgage Trust (NYSE:BXMT) had its target price reduced by equities research analysts at UBS Group from $19.50 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target points to a potential downside of 1.72% from the stock’s previous close.

Several other equities analysts also recently weighed in on BXMT. JPMorgan Chase & Co. dropped their target price on Blackstone Mortgage Trust from $20.00 to $18.50 and set a “neutral” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average price target of $20.25.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $18.32 on Wednesday. The company’s 50 day simple moving average is $19.71 and its 200-day simple moving average is $18.82. Blackstone Mortgage Trust has a 1 year low of $16.51 and a 1 year high of $21.24. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -15.65 and a beta of 1.22.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $1.26. Blackstone Mortgage Trust had a positive return on equity of 8.62% and a negative net margin of 11.54%. Equities analysts expect that Blackstone Mortgage Trust will post 1.65 earnings per share for the current year.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,315 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $20.70, for a total transaction of $47,920.50. Following the completion of the sale, the chief executive officer now owns 246,172 shares in the company, valued at approximately $5,095,760.40. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 5,652 shares of company stock worth $116,971 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Blackstone Mortgage Trust by 125.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,204 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Blackstone Mortgage Trust by 1,672.9% in the fourth quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 2,844 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $56,000. GAMMA Investing LLC increased its holdings in shares of Blackstone Mortgage Trust by 187.8% in the 1st quarter. GAMMA Investing LLC now owns 2,979 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 1,944 shares during the period. Finally, McIlrath & Eck LLC purchased a new stake in Blackstone Mortgage Trust in the 3rd quarter valued at $63,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

About Blackstone Mortgage Trust

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.