Blackstone Mortgage Trust Inc (BXMT) Given Average Rating of “Buy” by Analysts

Blackstone Mortgage Trust Inc (NYSE:BXMT) has earned a consensus rating of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $35.00.

BXMT has been the subject of several recent analyst reports. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, August 14th. ValuEngine raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Citigroup initiated coverage on Blackstone Mortgage Trust in a research note on Friday, October 12th. They issued a “neutral” rating and a $33.00 price target for the company. TheStreet raised Blackstone Mortgage Trust from a “c+” rating to a “b+” rating in a research note on Wednesday, October 31st. Finally, Credit Suisse Group increased their price target on Blackstone Mortgage Trust from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 21st.

In related news, Treasurer Douglas N. Armer sold 909 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $34.84, for a total transaction of $31,669.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Treasurer Douglas N. Armer sold 803 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $34.00, for a total value of $27,302.00. Following the transaction, the treasurer now directly owns 62,196 shares of the company’s stock, valued at approximately $2,114,664. The disclosure for this sale can be found here. In the last three months, insiders sold 2,413 shares of company stock valued at $83,123. Company insiders own 0.96% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Blackstone Group L.P. boosted its stake in Blackstone Mortgage Trust by 1.3% during the third quarter. Blackstone Group L.P. now owns 5,052,288 shares of the real estate investment trust’s stock valued at $169,302,000 after buying an additional 64,575 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Blackstone Mortgage Trust by 42.8% during the third quarter. Acadian Asset Management LLC now owns 959,654 shares of the real estate investment trust’s stock valued at $32,159,000 after buying an additional 287,566 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Blackstone Mortgage Trust by 204.7% during the second quarter. Renaissance Technologies LLC now owns 902,780 shares of the real estate investment trust’s stock valued at $28,374,000 after buying an additional 606,500 shares in the last quarter. Delphi Financial Group Inc. boosted its stake in Blackstone Mortgage Trust by 43.5% during the second quarter. Delphi Financial Group Inc. now owns 773,226 shares of the real estate investment trust’s stock valued at $24,295,000 after buying an additional 234,527 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Blackstone Mortgage Trust by 61.2% during the second quarter. Northern Trust Corp now owns 560,223 shares of the real estate investment trust’s stock valued at $17,607,000 after buying an additional 212,593 shares in the last quarter. 64.05% of the stock is owned by institutional investors and hedge funds.

BXMT traded up $0.13 during trading on Thursday, reaching $34.87. 856,333 shares of the company were exchanged, compared to its average volume of 1,600,789. The company has a market cap of $4.20 billion, a P/E ratio of 15.10, a PEG ratio of 2.63 and a beta of 0.46. Blackstone Mortgage Trust has a 52 week low of $29.51 and a 52 week high of $35.42.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Blackstone Mortgage Trust had a return on equity of 9.36% and a net margin of 50.60%. The firm had revenue of $105.15 million during the quarter, compared to the consensus estimate of $97.06 million. During the same period in the prior year, the business earned $0.69 EPS. Equities analysts predict that Blackstone Mortgage Trust will post 2.64 EPS for the current year.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by properties in North America and Europe. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

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