Keefe, Bruyette & Woods Lowers Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $18.50

Blackstone Mortgage Trust (NYSE:BXMT) had its target price reduced by analysts at Keefe, Bruyette & Woods from $19.00 to $18.50 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 3.29% from the company’s previous close.

A number of other analysts have also weighed in on the company. Wolfe Research raised 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. Wells Fargo & Company upped their price target on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.14.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock traded up $0.51 during trading on Tuesday, reaching $17.91. The company’s stock had a trading volume of 395,039 shares, compared to its average volume of 1,912,144. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $21.50. The stock’s 50-day moving average price is $18.41 and its 200 day moving average price is $18.37. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -12.88 and a beta of 1.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in Blackstone Mortgage Trust by 360.3% during the 2nd quarter. Parallel Advisors LLC now owns 29,391 shares of the real estate investment trust’s stock worth $512,000 after buying an additional 23,006 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Blackstone Mortgage Trust by 96.3% in the 2nd quarter. Edgestream Partners L.P. now owns 139,609 shares of the real estate investment trust’s stock valued at $2,432,000 after acquiring an additional 68,475 shares during the period. Waterloo Capital L.P. increased its holdings in shares of Blackstone Mortgage Trust by 5.1% in the 2nd quarter. Waterloo Capital L.P. now owns 101,816 shares of the real estate investment trust’s stock valued at $1,774,000 after acquiring an additional 4,972 shares during the period. Hsbc Holdings PLC raised its position in Blackstone Mortgage Trust by 23.2% in the 2nd quarter. Hsbc Holdings PLC now owns 23,572 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 4,441 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Blackstone Mortgage Trust during the 2nd quarter worth $691,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

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.