JPMorgan Chase & Co. Increases Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $20.00

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $17.50 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 1.26% from the company's previous close.

BXMT has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Wolfe Research upgraded Blackstone Mortgage Trust from a "peer perform" rating to an "outperform" rating and set a $20.00 price target on the stock in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.64.

Blackstone Mortgage Trust Trading Down 1.5 %

Shares of BXMT traded down $0.32 during trading hours on Tuesday, reaching $20.26. 2,144,594 shares of the company traded hands, compared to its average volume of 1,804,632. Blackstone Mortgage Trust has a 12-month low of $16.53 and a 12-month high of $21.09. The stock's fifty day moving average price is $18.38 and its 200 day moving average price is $18.46. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -17.31 and a beta of 1.50.

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. On average, research analysts forecast that Blackstone Mortgage Trust will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Hedge funds have recently bought and sold shares of the stock. Alpine Global Management LLC purchased a new stake in Blackstone Mortgage Trust during the fourth quarter worth $2,176,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Blackstone Mortgage Trust by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 532,395 shares of the real estate investment trust's stock valued at $9,269,000 after acquiring an additional 56,621 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Blackstone Mortgage Trust by 13.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 425,000 shares of the real estate investment trust's stock valued at $7,399,000 after purchasing an additional 50,000 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in Blackstone Mortgage Trust during the fourth quarter worth approximately $477,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Blackstone Mortgage Trust during the 4th quarter worth $4,862,000. Hedge funds and other institutional investors 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.