Blackstone Mortgage Trust (NYSE: BXMT) Zacks Investment Research lowered a “buy” rating to a “sell” rating in a research report released to clients and investors on Tuesday, Zacks.com reports.
According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focus on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, a company formerly known as Capital Trust, Inc. is located Its headquarters are in New York.
A number of other equity analysts have also influenced BXMT recently. BTIG Research reaffirmed a “buy” rating and set a $35.00 price target for Blackstone Mortgage Trust in a research note on Friday, September 10th. Keefe and Bruyette & Woods upgraded shares of Blackstone Mortgage Trust from a “market performance” rating to a “outstanding” rating and set a $34.00 price target per share in a research note on Monday, November 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone Mortgage Trust currently has an average rating of “Hold” and an agreed target price of $33.00.
BXMT stock traded down $0.04 on Tuesday, to $31.58. The company’s stock traded volume was 925,657 shares, compared to an average trading volume of 1,186.752 shares. The stock has a market capitalization of $5.29 billion, a price-earnings ratio of 12.34 and a beta of 1.36. The company has a 50-day moving average of $31.85 and a 200-day moving average of $31.90. The Blackstone Mortgage Trust has a one-year low of $25.82 and a one-year high of $34.04.
Blackstone Mortgage Trust (NYSE: BXMT) announced its quarterly earnings data on Tuesday, October 26th. The REIT reported earnings of $0.63 per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Blackstone Mortgage Trust posted a net profit margin of 54.64% and a return on equity of 8.13%. During the same period in the previous year, the company posted $0.57 EPS. Analysts expect Blackstone Mortgage Trust to report a return of 2.25 per share for the current fiscal year.
In other news from the Blackstone Mortgage Trust, CEO Catherine A. Keenan 1,906 shares of the company’s stock in a transaction on Thursday, September 30th. The stock sold for an average price of $30.61, with a total value of $58342.66. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available through this hyperlink. Also, EVP Douglas N. Armer sold 832 shares of the company’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $33.46, with a total value of $27838.72. The disclosure of this sale can be found here. Insiders have sold 4,375 shares of company stock valued at $137,910 in the last ninety days. 1.06% of the shares are owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of stock. Vanguard Group Inc. filed Its stake in shares of Blackstone Mortgage Trust increased by 1.8% during the second quarter. Vanguard Group Inc. owns. Now 12,935,056 shares of REIT stock are valued at $412,498,000 after purchasing an additional 222,881 shares in the last quarter. Geode Capital Management LLC grew its holdings in Blackstone Mortgage Trust by 6.8% during the third quarter. Geode Capital Management LLC now owns 2,616,887 shares of REIT stock valued at $79,436,000 after acquiring an additional 166,662 shares during the period. Northern Trust Corp. grew its holdings in Blackstone Mortgage Trust by 0.6% during the second quarter. Northern Trust Corp. now owns 1,857,860 shares of REIT stock valued at $59,248.000 after acquiring an additional 10,195 shares during the period. Charles Schwab Investment Management Inc. to grow its holdings in Blackstone Mortgage Trust by 3.1% during the second quarter. Charles Schwab Investment Management Inc. owns. Now 1,562,512 shares of REIT stock valued at $49,829,000 after acquiring an additional 46,791 shares during the period. Finally, Boston Partners increased its holdings in Blackstone Mortgage Trust by 1.9% during the second quarter. Boston Partners now owns 1,231,808 shares of REIT stock valued at $39,073,000 after acquiring an additional 23,196 shares during the period. Institutional investors and hedge funds own 59.68% of the company’s stock.
About the Blackstone Mortgage Fund
Blackstone Mortgage Trust, Inc. is a real estate finance company engaged in creating large loans against commercial real estate. Its investment objective is to preserve and protect shareholder capital while producing risk-adjusted returns primarily through dividends generated from current income from its loan portfolio.
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