Blackstone Mortgage Trust (NYSE:BXMT) Given New $19.00 Price Target at UBS Group

Blackstone Mortgage Trust (NYSE:BXMT) had its target price lowered by UBS Group from $21.00 to $19.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target would suggest a potential upside of 5.73% from the stock’s previous close.

BXMT has been the subject of a number of other research reports. Keefe, Bruyette & Woods reduced their price objective on Blackstone Mortgage Trust from $21.00 to $20.50 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Bank of America lowered Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $21.00 in a research note on Monday, March 4th. BTIG Research reduced their price target on 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. JPMorgan Chase & Co. reduced their price target on Blackstone Mortgage Trust from $19.00 to $18.50 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their target price on Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.43.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock traded down $0.28 on Thursday, hitting $17.97. 1,006,496 shares of the company’s stock were exchanged, compared to its average volume of 2,133,480. Blackstone Mortgage Trust has a 12 month low of $16.83 and a 12 month high of $23.82. The stock has a market cap of $3.12 billion, a P/E ratio of 12.74 and a beta of 1.42. The company has a 50 day moving average of $19.56 and a 200 day moving average of $20.62.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.25, for a total value of $46,068.75. Following the completion of the transaction, the chief executive officer now directly owns 192,023 shares in the company, valued at approximately $3,888,465.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Katharine A. Keenan sold 2,274 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.42, for a total value of $46,435.08. Following the transaction, the chief executive officer now directly owns 194,298 shares in the company, valued at approximately $3,967,565.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Katharine A. Keenan sold 2,275 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The disclosure for this sale can be found here. In the last three months, insiders sold 5,540 shares of company stock worth $112,642. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Blackstone Mortgage Trust by 35.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,096,198 shares of the real estate investment trust’s stock valued at $23,316,000 after buying an additional 289,643 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Blackstone Mortgage Trust during the third quarter valued at approximately $1,136,000. Ibex Wealth Advisors bought a new position in shares of Blackstone Mortgage Trust during the third quarter valued at approximately $4,716,000. Vanguard Group Inc. grew its stake in shares of Blackstone Mortgage Trust by 15.3% during the third quarter. Vanguard Group Inc. now owns 18,643,329 shares of the real estate investment trust’s stock valued at $405,492,000 after buying an additional 2,470,412 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Blackstone Mortgage Trust by 124.8% during the third quarter. Jump Financial LLC now owns 78,673 shares of the real estate investment trust’s stock valued at $1,711,000 after buying an additional 43,673 shares during the last quarter. 64.15% of the stock is owned by institutional investors.

About Blackstone Mortgage Trust

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.