Keefe, Bruyette & Woods Lowers Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $20.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $21.00 to $20.50 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 9.33% from the stock’s previous close.

BXMT has been the subject of several other research reports. Bank of America cut shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $21.00 in a research note on Monday, March 4th. JPMorgan Chase & Co. cut their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating for the company in a research note on Wednesday. Finally, UBS Group cut their price target on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of “Hold” and a consensus target price of $21.17.

Blackstone Mortgage Trust Stock Down 4.0 %

NYSE:BXMT traded down $0.78 during mid-day trading on Wednesday, hitting $18.75. 1,225,715 shares of the stock traded hands, compared to its average volume of 2,074,534. The business’s 50-day moving average price is $19.66 and its 200 day moving average price is $20.83. The company has a market cap of $3.26 billion, a PE ratio of 13.35 and a beta of 1.42. Blackstone Mortgage Trust has a 12-month low of $16.75 and a 12-month high of $23.82.

Insider Activity

In related news, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Katharine A. Keenan sold 2,274 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the completion of the sale, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $46,068.75. Following the sale, the chief executive officer now owns 192,023 shares of the company’s stock, valued at $3,888,465.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,540 shares of company stock valued at $112,642. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Blackstone Mortgage Trust by 0.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 54,350 shares of the real estate investment trust’s stock worth $1,504,000 after acquiring an additional 389 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of Blackstone Mortgage Trust by 4.7% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 10,753 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 487 shares in the last quarter. Strategic Advisors LLC increased its stake in shares of Blackstone Mortgage Trust by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 83,300 shares of the real estate investment trust’s stock worth $1,772,000 after acquiring an additional 500 shares in the last quarter. MBM Wealth Consultants LLC increased its stake in shares of Blackstone Mortgage Trust by 5.2% in the 3rd quarter. MBM Wealth Consultants LLC now owns 12,490 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 615 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Blackstone Mortgage Trust by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 46,602 shares of the real estate investment trust’s stock worth $1,014,000 after acquiring an additional 630 shares in the last quarter. 64.15% of the stock is currently owned by institutional investors.

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.