Keefe, Bruyette & Woods Boosts Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $19.50

Blackstone Mortgage Trust (NYSE:BXMT) had its target price boosted by Keefe, Bruyette & Woods from $18.50 to $19.50 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 0.71% from the stock’s current price.

Several other equities analysts also recently weighed in on BXMT. Wolfe Research upgraded Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price objective on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone Mortgage Trust has an average rating of “Hold” and an average target price of $20.29.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT traded up $0.41 during trading hours on Thursday, hitting $19.64. The stock had a trading volume of 203,691 shares, compared to its average volume of 1,600,435. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -14.12 and a beta of 1.50. The firm has a 50-day moving average price of $18.21 and a 200 day moving average price of $18.36. Blackstone Mortgage Trust has a fifty-two week low of $16.53 and a fifty-two week high of $20.73.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 12.91% and a positive return on equity of 9.35%. As a group, analysts predict that Blackstone Mortgage Trust will post 1.95 EPS for the current fiscal year.

Institutional Trading of Blackstone Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Blackstone Mortgage Trust during the fourth quarter worth $405,000. Waterloo Capital L.P. increased its stake in Blackstone Mortgage Trust by 21.7% in the 4th quarter. Waterloo Capital L.P. now owns 26,909 shares of the real estate investment trust’s stock valued at $468,000 after purchasing an additional 4,802 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Blackstone Mortgage Trust by 21.0% during the fourth quarter. Wells Fargo & Company MN now owns 815,750 shares of the real estate investment trust’s stock worth $14,202,000 after purchasing an additional 141,573 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in Blackstone Mortgage Trust during the fourth quarter worth $4,952,000. Finally, Cinctive Capital Management LP acquired a new stake in Blackstone Mortgage Trust in the fourth quarter valued at $1,292,000. 64.15% of the stock is owned by institutional investors and hedge funds.

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.