Blackstone Mortgage Trust (NYSE:BXMT) Stock Rating Updated by Zacks Investment Research
Blackstone Mortgage Trust (NYSE:BXMT – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Tuesday to investors, Zacks.com reports. The brokerage currently has a target price of $35.00 on shares of the real estate investment trust. Zacks Investment Research’s price target indicates a potential upside of 12.76% from the company’s current price.
According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The firm’s investment programs focus on commercial real estate asset-backed loans and securities. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc. is headquartered in New York. “
Separately, StockNews.com took over coverage of Blackstone Mortgage Trust stocks in a Thursday, March 31 research note. They set a “holding” rating for the company. Two analysts rated the stock with a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus buy quote and a consensus price target of $34.20.
Shares of NYSE:BXMT traded down $0.49 during Tuesday’s trading, hitting $31.04. The stock recorded a trading volume of 1,795,613 shares, compared to an average volume of 1,478,148 shares. The company has a fifty-day moving average price of $31.68 and a 200-day moving average price of $31.63. The stock has a market capitalization of $5.23 billion, a P/E ratio of 11.29 and a beta of 1.28. Blackstone Mortgage Trust has a fifty-two week low of $29.26 and a fifty-two week high of $34.04.
Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) released its quarterly results for the last time on Wednesday, February 9. The real estate investment trust reported EPS of $0.78 for the quarter, beating the consensus estimate of $0.62 by $0.16. Blackstone Mortgage Trust had a net margin of 55.31% and a return on equity of 8.72%. In the same quarter last year, the company earned $0.54 per share. Stock analysts expect Blackstone Mortgage Trust to post earnings per share of 2.33 for the current fiscal year.
Separately, CEO Katharine A. Keenan sold 992 shares of the company in a trade dated Thursday, March 31. The shares were sold at an average price of $32.03, for a total transaction of $31,773.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Katharine A. Keenan sold 1,173 shares of the company in a trade dated Tuesday, March 8. The shares were sold at an average price of $31.31, for a total transaction of $36,726.63. The disclosure of this sale can be found here. Insiders sold a total of 4,337 shares of the company worth $136,712 during the last quarter. 1.06% of the shares are currently held by insiders.
Several large investors have recently bought and sold shares of BXMT. DekaBank Deutsche Girozentrale acquired a new stock position in Blackstone Mortgage Trust in the fourth quarter worth approximately $25,000. Dark Forest Capital Management LP acquired a new position in shares of Blackstone Mortgage Trust in the third quarter worth approximately $33,000. Marshall Wace North America LP bought a new stock position in Blackstone Mortgage Trust in the first quarter worth about $55,000. MBM Wealth Consultants LLC acquired a new stock position in Blackstone Mortgage Trust in the fourth quarter worth approximately $52,000. Finally, Covestor Ltd purchased a new equity stake in Blackstone Mortgage Trust in the fourth quarter worth approximately $60,000. Institutional investors hold 53.34% of the company’s shares.
About Blackstone Mortgage Trust (Get an evaluation)
Blackstone Mortgage Trust, Inc, a real estate finance company, issues senior loans secured by commercial properties in North America, Europe and Australia. The Company operates as a real estate investment trust for federal income tax purposes. It would generally not be subject to US federal income tax if it distributed at least 90% of its taxable income to its shareholders.
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