Blackstone Mortgage Trust (NYSE:BXMT) Given New $20.00 Price Target at JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $17.50 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 2.27% from the company’s current price.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Wolfe Research raised Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.64.

Blackstone Mortgage Trust Stock Up 0.7 %

BXMT traded up $0.14 on Tuesday, reaching $20.47. The company had a trading volume of 209,707 shares, compared to its average volume of 1,685,651. Blackstone Mortgage Trust has a 1 year low of $16.53 and a 1 year high of $20.73. The stock has a market capitalization of $3.54 billion, a PE ratio of -14.71 and a beta of 1.50. The stock has a 50-day moving average price of $18.30 and a 200-day moving average price of $18.41.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts expect that Blackstone Mortgage Trust will post 1.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in Blackstone Mortgage Trust by 125.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,204 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the third quarter worth approximately $39,000. Huntington National Bank grew its holdings in Blackstone Mortgage Trust by 1,672.9% in the fourth quarter. Huntington National Bank now owns 3,014 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 2,844 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Blackstone Mortgage Trust during the fourth quarter worth approximately $56,000. Finally, McIlrath & Eck LLC purchased a new position in Blackstone Mortgage Trust during the third quarter worth approximately $63,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

About Blackstone Mortgage Trust

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.