Blackstone Mortgage Trust (NYSE:BXMT) Price Target Cut to $19.00 by Analysts at UBS Group

Blackstone Mortgage Trust (NYSE:BXMT) had its price target reduced by investment analysts at UBS Group from $21.00 to $19.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target would suggest a potential upside of 6.06% from the company’s current price.

A number of other research firms also recently issued reports on BXMT. Wells Fargo & Company lowered their price target on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. BTIG Research reduced their price target on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Bank of America lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods decreased their target price on Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average target price of $19.93.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $17.92 on Thursday. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 597.17 and a beta of 1.42. Blackstone Mortgage Trust has a 1 year low of $16.83 and a 1 year high of $23.82. The firm has a 50 day moving average price of $19.47 and a 200 day moving average price of $20.57.

Insider Transactions at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the sale, the chief executive officer now directly owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction that occurred on 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 owns 194,298 shares in the company, valued at $3,967,565.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now owns 192,023 shares of the company’s stock, valued at approximately $3,888,465.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,540 shares of company stock valued at $112,642. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone Mortgage Trust

Several institutional investors have recently added to or reduced their stakes in BXMT. Central Bank & Trust Co. acquired a new position in shares of Blackstone Mortgage Trust in the 4th quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC acquired a new position in shares of Blackstone Mortgage Trust during the fourth quarter worth approximately $45,000. Creekmur Asset Management LLC bought a new position in Blackstone Mortgage Trust in the 4th quarter worth approximately $51,000. Finally, Sandy Spring Bank increased its position in Blackstone Mortgage Trust by 10,652.0% in the 4th quarter. Sandy Spring Bank now owns 2,688 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 2,663 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.