Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Blackstone Mortgage Trust (NYSE:BXMT)

Blackstone Mortgage Trust (NYSE:BXMT)‘s stock had its “market perform” rating restated by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Tuesday, Benzinga reports. They currently have a $18.00 price target on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 0.11% from the stock’s current price.

BXMT has been the subject of several other research reports. UBS Group reduced their price objective on shares of 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. BTIG Research reduced their price objective on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Bank of America downgraded shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. reduced their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Wells Fargo & Company reduced their price target on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.93.

Blackstone Mortgage Trust Price Performance

Shares of NYSE:BXMT traded up $0.09 during trading on Tuesday, hitting $18.02. 371,069 shares of the company were exchanged, compared to its average volume of 2,060,611. The stock has a market capitalization of $3.13 billion, a P/E ratio of 600.00 and a beta of 1.47. Blackstone Mortgage Trust has a 12-month low of $16.70 and a 12-month high of $23.82. The firm’s 50 day moving average price is $17.90 and its 200-day moving average price is $19.64.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the transaction, the chief executive officer now directly owns 187,468 shares in the company, valued at approximately $3,194,454.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the transaction, the chief executive officer now directly owns 187,468 shares in the company, valued at approximately $3,194,454.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Katharine A. Keenan sold 2,259 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $17.04, for a total transaction of $38,493.36. Following the completion of the transaction, the chief executive officer now owns 189,764 shares in the company, valued at $3,233,578.56. The disclosure for this sale can be found here. Insiders have sold 5,547 shares of company stock worth $94,521 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BXMT. Mutual of America Capital Management LLC purchased a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth about $657,000. Blair William & Co. IL acquired a new stake in Blackstone Mortgage Trust during the 3rd quarter worth approximately $202,000. Deutsche Bank AG increased its position in Blackstone Mortgage Trust by 16.3% during the 3rd quarter. Deutsche Bank AG now owns 102,101 shares of the real estate investment trust’s stock worth $2,221,000 after purchasing an additional 14,273 shares in the last quarter. Rhumbline Advisers increased its position in Blackstone Mortgage Trust by 87.3% during the 3rd quarter. Rhumbline Advisers now owns 585,088 shares of the real estate investment trust’s stock worth $12,726,000 after purchasing an additional 272,641 shares in the last quarter. Finally, Invesco Ltd. increased its position in Blackstone Mortgage Trust by 83.0% during the 3rd quarter. Invesco Ltd. now owns 396,256 shares of the real estate investment trust’s stock worth $8,619,000 after purchasing an additional 179,739 shares in the last quarter. 64.15% 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 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.