Blackstone Mortgage Trust (NYSE:BXMT) Reaches New 12-Month Low at $17.60

Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.60 and last traded at $17.63, with a volume of 954950 shares traded. The stock had previously closed at $18.67.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating and set a $26.00 price target on the stock. in a research report on Thursday, December 15th. TheStreet downgraded shares of Blackstone Mortgage Trust from a “b-” rating to a “c+” rating in a research report on Tuesday, December 6th. StockNews.com assumed coverage on shares of Blackstone Mortgage Trust in a research report on Thursday. They set a “hold” rating on the stock. Finally, Citigroup reduced their price target on shares of Blackstone Mortgage Trust from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, February 13th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, Blackstone Mortgage Trust presently has an average rating of “Hold” and a consensus target price of $26.50.

Blackstone Mortgage Trust Stock Performance

The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 12.62 and a beta of 1.34. The business’s 50-day simple moving average is $22.17 and its 200-day simple moving average is $23.83.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, Director Michael B. Nash bought 50,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $18.86 per share, for a total transaction of $943,000.00. Following the transaction, the director now owns 468,455 shares in the company, valued at approximately $8,835,061.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Henry N. Nassau purchased 10,000 shares of the stock in a transaction dated Wednesday, March 15th. The stock was bought at an average cost of $17.81 per share, with a total value of $178,100.00. Following the purchase, the director now directly owns 127,348 shares in the company, valued at approximately $2,268,067.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Nash purchased 50,000 shares of the stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $18.86 per share, with a total value of $943,000.00. Following the completion of the purchase, the director now owns 468,455 shares in the company, valued at $8,835,061.30. The disclosure for this purchase can be found here. Corporate insiders own 1.06% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Blackstone Mortgage Trust by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,544,123 shares of the real estate investment trust’s stock worth $362,800,000 after buying an additional 162,232 shares during the period. State Street Corp raised its holdings in Blackstone Mortgage Trust by 1.8% during the 3rd quarter. State Street Corp now owns 3,483,000 shares of the real estate investment trust’s stock worth $83,443,000 after buying an additional 62,812 shares during the period. Geode Capital Management LLC raised its holdings in Blackstone Mortgage Trust by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 3,178,541 shares of the real estate investment trust’s stock worth $67,289,000 after buying an additional 191,244 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Blackstone Mortgage Trust by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,196,811 shares of the real estate investment trust’s stock worth $46,506,000 after buying an additional 86,613 shares during the period. Finally, Northern Trust Corp raised its holdings in Blackstone Mortgage Trust by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,021,673 shares of the real estate investment trust’s stock worth $55,940,000 after buying an additional 64,264 shares during the period. 54.01% of the stock is currently owned by institutional investors and hedge funds.

About Blackstone Mortgage Trust

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Blackstone Mortgage Trust, Inc is a real estate finance company, which engages in originating senior loans collateralized by commercial real estate. Its investment objective is to preserve and protect shareholder capital while producing risk-adjusted returns primarily through dividends generated from current income from its loan portfolio.