Blackstone Mortgage Trust (NYSE:BXMT) PT Lowered to $22.00 at BTIG Research

Blackstone Mortgage Trust (NYSE:BXMT) had its price target dropped by stock analysts at BTIG Research from $24.00 to $22.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective would indicate a potential upside of 19.96% from the company’s current price.

BXMT has been the topic of a number of other reports. Bank of America downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $21.00 in a report on Monday, March 4th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating on the stock in a report on Wednesday, April 10th. UBS Group lowered their price objective on Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Blackstone Mortgage Trust has an average rating of “Hold” and an average price target of $20.83.

Blackstone Mortgage Trust Trading Up 0.5 %

Shares of NYSE:BXMT traded up $0.09 during midday trading on Wednesday, reaching $18.34. The company had a trading volume of 981,301 shares, compared to its average volume of 2,111,732. The company’s 50 day moving average price is $19.58 and its 200 day moving average price is $20.71. The stock has a market cap of $3.19 billion, a P/E ratio of 13.02 and a beta of 1.42. Blackstone Mortgage Trust has a 52-week low of $16.83 and a 52-week high of $23.82.

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the sale, the chief executive officer now directly owns 192,023 shares in the company, valued at $3,888,465.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.42, for a total transaction of $46,435.08. Following the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at $3,967,565.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total transaction of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The disclosure for this sale can be found here. Insiders have sold a total of 5,540 shares of company stock worth $112,642 over the last ninety days. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Blackstone Mortgage Trust by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 54,350 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 389 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Blackstone Mortgage Trust by 4.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 10,753 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 487 shares during the last quarter. Strategic Advisors LLC increased its position in shares of Blackstone Mortgage Trust by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock worth $1,772,000 after purchasing an additional 500 shares during the last quarter. MBM Wealth Consultants LLC increased its position in shares of Blackstone Mortgage Trust by 5.2% in the third quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 615 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Blackstone Mortgage Trust by 1.4% in the third quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock worth $1,014,000 after purchasing an additional 630 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors.

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.