Blackstone Mortgage Trust (NYSE:BXMT) Given New $20.50 Price Target at Keefe, Bruyette & Woods

Blackstone Mortgage Trust (NYSE:BXMT) had its price target increased by research analysts at Keefe, Bruyette & Woods from $19.50 to $20.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 3.25% from the company’s previous close.

Several other research analysts have also issued reports on BXMT. JPMorgan Chase & Co. increased their price target on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Wolfe Research upgraded shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Wednesday, December 11th. Finally, UBS Group upped their price target on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Blackstone Mortgage Trust currently has a consensus rating of “Hold” and an average price target of $20.83.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $19.86 on Monday. Blackstone Mortgage Trust has a fifty-two week low of $16.53 and a fifty-two week high of $21.24. The stock’s 50 day simple moving average is $19.65 and its two-hundred day simple moving average is $18.94. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -16.97 and a beta of 1.52.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate 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%. On average, analysts predict that Blackstone Mortgage Trust will post 1.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Katharine A. Keenan sold 2,315 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $20.70, for a total transaction of $47,920.50. Following the sale, the chief executive officer now owns 246,172 shares of the company’s stock, valued at $5,095,760.40. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 5,652 shares of company stock valued at $116,971. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. True North Advisors LLC raised its stake in Blackstone Mortgage Trust by 2.4% during the 4th quarter. True North Advisors LLC now owns 23,993 shares of the real estate investment trust’s stock valued at $418,000 after buying an additional 558 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in Blackstone Mortgage Trust by 1.7% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 38,237 shares of the real estate investment trust’s stock valued at $666,000 after acquiring an additional 624 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Blackstone Mortgage Trust by 4.9% in the fourth quarter. CIBC Asset Management Inc now owns 16,915 shares of the real estate investment trust’s stock valued at $294,000 after acquiring an additional 785 shares during the period. IFP Advisors Inc boosted its position in Blackstone Mortgage Trust by 9.1% in the fourth quarter. IFP Advisors Inc now owns 10,037 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 841 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Blackstone Mortgage Trust by 5.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,165 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 967 shares during the period. 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.