Blackstone Mortgage Trust (NYSE:BXMT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Blackstone Mortgage Trust (NYSE:BXMT) had its price target upped by JPMorgan Chase & Co. from $19.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 1.86% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.00 to $21.00 in a research report on Monday, November 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a report on Monday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.25.

Blackstone Mortgage Trust Stock Down 0.6%

BXMT stock traded down $0.13 during trading on Thursday, hitting $19.64. The company had a trading volume of 342,863 shares, compared to its average volume of 1,422,007. The firm has a 50-day moving average price of $18.56 and a 200-day moving average price of $19.03. Blackstone Mortgage Trust has a 12 month low of $16.51 and a 12 month high of $21.24. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 31.67 and a beta of 1.08.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $132.71 million during the quarter, compared to analysts’ expectations of $103.56 million. Blackstone Mortgage Trust had a return on equity of 4.06% and a net margin of 7.53%. Equities analysts expect that Blackstone Mortgage Trust will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Katharine A. Keenan sold 4,593 shares of Blackstone Mortgage Trust stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $19.49, for a total transaction of $89,517.57. Following the transaction, the chief executive officer directly owned 230,006 shares of the company’s stock, valued at $4,482,816.94. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 6,503 shares of company stock valued at $126,682 in the last quarter. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BXMT. Salomon & Ludwin LLC acquired a new stake in Blackstone Mortgage Trust in the 3rd quarter valued at $25,000. SVB Wealth LLC bought a new stake in Blackstone Mortgage Trust during the first quarter worth $29,000. Jones Financial Companies Lllp lifted its stake in Blackstone Mortgage Trust by 45.5% in the first quarter. Jones Financial Companies Lllp now owns 1,715 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 536 shares during the last quarter. North Capital Inc. bought a new position in shares of Blackstone Mortgage Trust in the 3rd quarter valued at about $37,000. Finally, Advisory Services Network LLC acquired a new position in shares of Blackstone Mortgage Trust during the 3rd quarter worth about $46,000. 64.15% of the stock is currently 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.