Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives Average Recommendation of "Hold" from Brokerages

Shares of Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) have been assigned a consensus rating of "Hold" from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.08.

Several equities analysts recently commented on the company. Wells Fargo & Company increased their target price on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, September 20th. BTIG Research reiterated a "buy" rating and issued a $23.00 price objective on shares of Blackstone Mortgage Trust in a report on Friday, July 19th. Finally, JMP Securities restated a "market perform" rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, July 23rd.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE:BXMT traded up $0.03 during trading hours on Friday, reaching $18.98. The stock had a trading volume of 1,812,847 shares, compared to its average volume of 1,961,250. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -13.65 and a beta of 1.50. The firm's 50 day moving average is $18.70 and its 200-day moving average is $18.16. Blackstone Mortgage Trust has a 1 year low of $16.53 and a 1 year high of $23.29.

Blackstone Mortgage Trust announced that its Board of Directors has initiated a share repurchase plan on Wednesday, July 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Large investors have recently modified their holdings of the company. Artemis Investment Management LLP acquired a new stake in shares of Blackstone Mortgage Trust during the third quarter worth about $24,103,000. Van ECK Associates Corp raised its stake in Blackstone Mortgage Trust by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 823,935 shares of the real estate investment trust's stock valued at $15,737,000 after acquiring an additional 38,436 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Blackstone Mortgage Trust during the 2nd quarter worth approximately $10,656,000. GFS Advisors LLC grew its stake 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 purchasing an additional 453,430 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Blackstone Mortgage Trust in the second quarter valued at approximately $6,983,000. 64.15% of the stock is owned by institutional investors and hedge funds.

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.