UBS Group Upgrades Blackstone Mortgage Trust (NYSE:BXMT) to “Strong-Buy”

Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by UBS Group to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

BXMT has been the topic of a number of other reports. BTIG Research reiterated a “buy” rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. Weiss Ratings downgraded shares of Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Zacks Research downgraded shares of Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Blackstone Mortgage Trust Stock Down 1.5%

Shares of Blackstone Mortgage Trust stock opened at $18.04 on Tuesday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 29.58 and a beta of 0.89. Blackstone Mortgage Trust has a 12-month low of $17.67 and a 12-month high of $20.67. The firm’s 50-day moving average price is $18.95 and its two-hundred day moving average price is $19.25.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, President Fernando Austin Pena sold 1,666 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $18.88, for a total value of $31,454.08. Following the sale, the president directly owned 76,967 shares in the company, valued at approximately $1,453,136.96. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake in shares of Blackstone Mortgage Trust by 45.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 536 shares in the last quarter. ORG Partners LLC bought a new position in Blackstone Mortgage Trust in the 4th quarter valued at approximately $41,000. Ascentis Independent Advisors bought a new position in Blackstone Mortgage Trust in the 1st quarter valued at approximately $41,000. UMB Bank n.a. raised its holdings in Blackstone Mortgage Trust by 151.1% in the 4th quarter. UMB Bank n.a. now owns 2,172 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 1,307 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Blackstone Mortgage Trust in the 3rd quarter valued at approximately $46,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

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.