Wells Fargo & Company Initiates Coverage on Capital Trust (BXMT)

Stock analysts at Wells Fargo & Company initiated coverage on shares of Capital Trust (NYSE:BXMT) in a research report issued on Wednesday. The brokerage set an “outperform” rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Capital Trust from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Monday, October 30th. BidaskClub lowered Capital Trust from a “hold” rating to a “sell” rating in a report on Friday, September 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $33.00 price objective on shares of Capital Trust in a report on Friday, September 15th. FBR & Co increased their price objective on Capital Trust from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, B. Riley reiterated a “buy” rating and set a $33.00 price objective on shares of Capital Trust in a report on Friday, December 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $33.80.

Shares of Capital Trust (BXMT) opened at $32.21 on Wednesday. The company has a market capitalization of $3,403.35, a price-to-earnings ratio of 14.07 and a beta of 0.70. Capital Trust has a 12-month low of $29.76 and a 12-month high of $32.96.

Capital Trust (NYSE:BXMT) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The business had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $74.35 million. Capital Trust had a return on equity of 8.63% and a net margin of 53.85%. Capital Trust’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. equities research analysts predict that Capital Trust will post 2.28 earnings per share for the current fiscal year.

In other Capital Trust news, CFO Anthony F. Marone, Jr. sold 1,070 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $31.95, for a total transaction of $34,186.50. Following the transaction, the chief financial officer now directly owns 15,504 shares in the company, valued at $495,352.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Treasurer Douglas N. Armer sold 3,658 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $31.86, for a total value of $116,543.88. Following the transaction, the treasurer now owns 49,561 shares in the company, valued at $1,579,013.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,516 shares of company stock valued at $208,100. 0.91% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BXMT. Blackstone Group L.P. raised its holdings in Capital Trust by 14.4% during the third quarter. Blackstone Group L.P. now owns 5,263,579 shares of the real estate investment trust’s stock valued at $163,276,000 after buying an additional 663,846 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Capital Trust during the second quarter valued at about $3,700,000. Janney Capital Management LLC bought a new position in Capital Trust during the third quarter valued at about $620,000. SG Americas Securities LLC bought a new position in Capital Trust during the third quarter valued at about $422,000. Finally, Cubist Systematic Strategies LLC bought a new position in Capital Trust during the third quarter valued at about $284,000. Institutional investors own 60.37% of the company’s stock.

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About Capital Trust

Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.

Analyst Recommendations for Capital Trust (NYSE:BXMT)

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