Blackstone Mortgage Trust (NYSE:BXMT) Stock Rating Upgraded by JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a $21.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.43% from the company’s current price.

BXMT has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone Mortgage Trust from $21.00 to $21.50 and gave the company an “outperform” rating in a research report on Thursday, February 12th. BTIG Research reiterated a “buy” rating and issued a $23.00 price target on shares of Blackstone Mortgage Trust in a research note on Tuesday, February 10th. Zacks Research raised Blackstone Mortgage Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blackstone Mortgage Trust has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Blackstone Mortgage Trust Trading Up 0.7%

BXMT opened at $20.11 on Thursday. Blackstone Mortgage Trust has a twelve month low of $17.67 and a twelve month high of $20.67. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 30.94 and a beta of 1.00. The company has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $19.13.

Insider Activity

In other news, President Fernando Austin Pena sold 1,666 shares of the company’s stock in a transaction dated 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 owned 76,967 shares in the company, valued at approximately $1,453,136.96. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC increased its stake in shares of Blackstone Mortgage Trust by 2.2% in the fourth quarter. Elevation Point Wealth Partners LLC now owns 24,602 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 525 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Blackstone Mortgage Trust by 45.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 536 shares during the last quarter. Arizona State Retirement System grew its holdings in Blackstone Mortgage Trust by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 48,234 shares of the real estate investment trust’s stock worth $888,000 after acquiring an additional 660 shares during the last quarter. GAMMA Investing LLC increased its position in Blackstone Mortgage Trust by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,926 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 775 shares in the last quarter. Finally, Naples Global Advisors LLC raised its stake in shares of Blackstone Mortgage Trust by 4.3% in the third quarter. Naples Global Advisors LLC now owns 19,475 shares of the real estate investment trust’s stock worth $361,000 after acquiring an additional 800 shares during the last quarter. 64.15% of the stock is owned by institutional investors.

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.