Blackstone Mortgage Trust (NYSE:BXMT) Raised to “Hold” at Zacks Investment Research

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Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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 company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “

Separately, Compass Point assumed coverage on shares of Blackstone Mortgage Trust in a research note on Monday. They issued a “neutral” rating and a $36.00 price objective on the stock. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $36.83.

Shares of NYSE:BXMT traded up $0.11 during trading on Wednesday, reaching $36.61. The stock had a trading volume of 676,700 shares, compared to its average volume of 856,482. The firm’s fifty day moving average is $36.10 and its 200 day moving average is $35.80. Blackstone Mortgage Trust has a 52 week low of $30.84 and a 52 week high of $36.77. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 3.04 and a beta of 0.51.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. Blackstone Mortgage Trust had a net margin of 39.30% and a return on equity of 8.70%. The company had revenue of $101.92 million for the quarter, compared to analyst estimates of $105.80 million. During the same period in the prior year, the firm posted $0.75 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, research analysts predict that Blackstone Mortgage Trust will post 2.41 earnings per share for the current year.

In related news, EVP Douglas N. Armer sold 915 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.92, for a total transaction of $32,866.80. Following the transaction, the executive vice president now directly owns 69,048 shares of the company’s stock, valued at $2,480,204.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas N. Armer sold 801 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $35.44, for a total transaction of $28,387.44. Following the completion of the transaction, the executive vice president now directly owns 69,963 shares in the company, valued at $2,479,488.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,107 shares of company stock worth $147,020. 0.95% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in BXMT. Nuveen Asset Management LLC lifted its stake in shares of Blackstone Mortgage Trust by 174.6% in the second quarter. Nuveen Asset Management LLC now owns 1,895,306 shares of the real estate investment trust’s stock valued at $67,435,000 after buying an additional 1,205,022 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Blackstone Mortgage Trust by 7.4% in the second quarter. Vanguard Group Inc. now owns 13,090,532 shares of the real estate investment trust’s stock valued at $465,761,000 after buying an additional 902,257 shares in the last quarter. Capital Advisors Inc. OK lifted its stake in shares of Blackstone Mortgage Trust by 323.3% in the second quarter. Capital Advisors Inc. OK now owns 280,840 shares of the real estate investment trust’s stock valued at $9,992,000 after buying an additional 214,489 shares in the last quarter. Laurion Capital Management LP lifted its stake in shares of Blackstone Mortgage Trust by 340.1% in the second quarter. Laurion Capital Management LP now owns 230,400 shares of the real estate investment trust’s stock valued at $8,198,000 after buying an additional 178,044 shares in the last quarter. Finally, Blackstone Group Inc lifted its stake in shares of Blackstone Mortgage Trust by 3.0% in the second quarter. Blackstone Group Inc now owns 5,505,875 shares of the real estate investment trust’s stock valued at $195,899,000 after buying an additional 158,982 shares in the last quarter. 58.75% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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