Blackstone Mortgage Trust (NYSE:BXMT) Price Target Raised to $19.50 at UBS Group

Blackstone Mortgage Trust (NYSE:BXMT) had its price target boosted by stock analysts at UBS Group from $18.50 to $19.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target indicates a potential downside of 2.79% from the company’s previous close.

BXMT has been the topic of several other research reports. Wolfe Research upgraded Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Wednesday, December 11th. Keefe, Bruyette & Woods raised their target price on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.71.

Blackstone Mortgage Trust Stock Performance

NYSE BXMT traded down $0.38 on Tuesday, hitting $20.06. 340,055 shares of the stock were exchanged, compared to its average volume of 1,755,395. Blackstone Mortgage Trust has a 52-week low of $16.53 and a 52-week high of $21.09. The firm has a market capitalization of $3.44 billion, a P/E ratio of -17.15 and a beta of 1.50. The stock has a fifty day moving average price of $18.43 and a two-hundred day moving average price of $18.52.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a positive return on equity of 8.62% and a negative net margin of 11.54%. Sell-side analysts expect that Blackstone Mortgage Trust will post 1.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC purchased a new position in Blackstone Mortgage Trust during the 4th quarter valued at about $2,176,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Blackstone Mortgage Trust by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 532,395 shares of the real estate investment trust’s stock valued at $9,269,000 after buying an additional 56,621 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Blackstone Mortgage Trust by 13.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 425,000 shares of the real estate investment trust’s stock worth $7,399,000 after acquiring an additional 50,000 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at $477,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Blackstone Mortgage Trust during the fourth quarter valued at $4,862,000. Institutional investors and hedge funds 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.