Blackstone Mortgage Trust (NYSE:BXMT) Stock Rating Upgraded by Wolfe Research

Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $20.00 price objective on the real estate investment trust’s stock. Wolfe Research’s price target suggests a potential upside of 5.60% from the stock’s current price.

Separately, Wells Fargo & Company lifted their price target on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.07.

Blackstone Mortgage Trust Stock Performance

Blackstone Mortgage Trust stock opened at $18.94 on Wednesday. Blackstone Mortgage Trust has a 52 week low of $16.53 and a 52 week high of $23.29. The stock has a market capitalization of $3.28 billion, a P/E ratio of -13.63 and a beta of 1.50. The stock has a fifty day moving average of $18.54 and a 200-day moving average of $18.27.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the business. Artemis Investment Management LLP bought a new position in shares of Blackstone Mortgage Trust during the third quarter valued at $24,103,000. Van ECK Associates Corp increased its holdings in Blackstone Mortgage Trust by 4.9% in the third quarter. Van ECK Associates Corp now owns 823,935 shares of the real estate investment trust’s stock valued at $15,737,000 after purchasing an additional 38,436 shares during the period. Point72 Asset Management L.P. bought a new position in Blackstone Mortgage Trust during the 2nd quarter worth $10,656,000. Rockefeller Capital Management L.P. lifted its holdings in Blackstone Mortgage Trust by 1.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 595,425 shares of the real estate investment trust’s stock worth $11,319,000 after buying an additional 8,444 shares during the period. Finally, GFS Advisors LLC grew its position in shares of Blackstone Mortgage Trust by 9,068.6% in the 3rd quarter. GFS Advisors LLC now owns 458,430 shares of the real estate investment trust’s stock valued at $8,715,000 after buying an additional 453,430 shares during the last quarter. 64.15% of the stock is currently owned by institutional investors and hedge funds.

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.