BTIG Research Reiterates “Buy” Rating for Blackstone Mortgage Trust (NYSE:BXMT)

Blackstone Mortgage Trust (NYSE:BXMT)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $23.00 price objective on the real estate investment trust’s stock. BTIG Research’s target price would indicate a potential upside of 17.77% from the company’s current price.

Several other brokerages have also recently issued reports on BXMT. Weiss Ratings restated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on Blackstone Mortgage Trust from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Finally, Keefe, Bruyette & Woods raised Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $21.00 in a report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Blackstone Mortgage Trust Price Performance

Blackstone Mortgage Trust stock opened at $19.53 on Tuesday. Blackstone Mortgage Trust has a one year low of $16.51 and a one year high of $21.24. The business’s fifty day moving average is $19.63 and its 200 day moving average is $19.13. The stock has a market capitalization of $3.28 billion, a PE ratio of 31.50 and a beta of 1.07.

Insiders Place Their Bets

In other Blackstone Mortgage Trust news, President Fernando Austin Pena sold 3,131 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $19.24, for a total transaction of $60,240.44. Following the completion of the sale, the president owned 78,633 shares of the company’s stock, valued at approximately $1,512,898.92. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 5,049 shares of company stock worth $98,716 in the last quarter. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BXMT. Baker Avenue Asset Management LP increased its holdings in Blackstone Mortgage Trust by 8.4% in the 4th quarter. Baker Avenue Asset Management LP now owns 172,455 shares of the real estate investment trust’s stock worth $3,299,000 after acquiring an additional 13,388 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Blackstone Mortgage Trust by 67.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 4,331 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,749 shares in the last quarter. Wellington Shields & Co. LLC raised its position in shares of Blackstone Mortgage Trust by 44.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 8,275 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 2,550 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $439,000. Finally, Summit Asset Management LLC purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter valued at $235,000. 64.15% of the stock is currently owned by institutional investors.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.