Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $19.00 at Wells Fargo & Company

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective decreased by research analysts at Wells Fargo & Company from $20.00 to $19.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.01% from the stock’s current price.

Several other brokerages also recently weighed in on BXMT. Wolfe Research initiated coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 25th. They set a “peer perform” rating for the company. UBS Group reduced their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 target price on shares of Blackstone Mortgage Trust in a research note on Tuesday, June 18th. JMP Securities restated a “market perform” rating on shares of Blackstone Mortgage Trust in a research report on Tuesday. Finally, BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.93.

Blackstone Mortgage Trust Price Performance

BXMT traded up $0.08 on Thursday, hitting $17.43. The company had a trading volume of 2,366,103 shares, compared to its average volume of 2,136,226. Blackstone Mortgage Trust has a 1-year low of $16.70 and a 1-year high of $23.82. The company’s fifty day moving average price is $17.90 and its 200 day moving average price is $18.94. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 582.67 and a beta of 1.49.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. The business had revenue of $466.15 million during the quarter, compared to the consensus estimate of $131.87 million. Blackstone Mortgage Trust had a net margin of 0.24% and a return on equity of 10.72%. During the same period in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts forecast that Blackstone Mortgage Trust will post 2.15 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Katharine A. Keenan sold 2,259 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $17.04, for a total value of $38,493.36. Following the completion of the sale, the chief executive officer now directly owns 189,764 shares in the company, valued at $3,233,578.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Katharine A. Keenan sold 4,508 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $17.53, for a total transaction of $79,025.24. Following the sale, the chief executive officer now owns 182,960 shares of the company’s stock, valued at approximately $3,207,288.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 2,259 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $17.04, for a total value of $38,493.36. Following the completion of the transaction, the chief executive officer now owns 189,764 shares of the company’s stock, valued at $3,233,578.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,057 shares of company stock valued at $191,141. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several large investors have recently made changes to their positions in BXMT. Park Place Capital Corp bought a new position in Blackstone Mortgage Trust during the 2nd quarter worth about $26,000. Versant Capital Management Inc lifted its stake in Blackstone Mortgage Trust by 66.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,183 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 871 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in Blackstone Mortgage Trust during the 4th quarter worth approximately $42,000. GAMMA Investing LLC bought a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth approximately $45,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $51,000. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.