Keefe, Bruyette & Woods Boosts Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $19.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $18.50 to $19.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 4.15% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on BXMT. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.29.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock opened at $20.34 on Thursday. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -14.64 and a beta of 1.50. Blackstone Mortgage Trust has a 1 year low of $16.53 and a 1 year high of $20.73. The firm has a 50-day moving average of $18.24 and a two-hundred day moving average of $18.37.

Blackstone Mortgage Trust (NYSE:BXMT) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 12.91% and a positive return on equity of 9.35%. Research analysts expect that Blackstone Mortgage Trust will post 1.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BXMT. Norges Bank acquired a new position in Blackstone Mortgage Trust during the 4th quarter valued at approximately $35,662,000. Schonfeld Strategic Advisors LLC acquired a new position in Blackstone Mortgage Trust during the 4th quarter valued at approximately $8,118,000. GFS Advisors LLC increased its stake in Blackstone Mortgage Trust by 9,068.6% during the 3rd quarter. GFS Advisors LLC now owns 458,430 shares of the real estate investment trust’s stock valued at $8,715,000 after purchasing an additional 453,430 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Blackstone Mortgage Trust during the 4th quarter valued at approximately $4,952,000. Finally, Senvest Management LLC acquired a new position in Blackstone Mortgage Trust during the 4th quarter valued at approximately $3,917,000. Institutional investors and hedge funds 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.