Blackstone Mortgage Trust (NYSE:BXMT) Upgraded by Wolfe Research to "Outperform" Rating

Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) was upgraded by investment analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $20.00 target price on the real estate investment trust's stock. Wolfe Research's price objective would suggest a potential upside of 4.00% from the stock's previous close.

Separately, Wells Fargo & Company raised their price objective on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Blackstone Mortgage Trust has an average rating of "Hold" and an average price target of $20.07.

Blackstone Mortgage Trust Stock Up 1.5 %

NYSE BXMT traded up $0.29 during trading on Wednesday, reaching $19.23. 1,810,252 shares of the stock traded hands, compared to its average volume of 1,901,913. The stock's 50-day moving average price is $18.54 and its 200 day moving average price is $18.27. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -13.63 and a beta of 1.50. Blackstone Mortgage Trust has a fifty-two week low of $16.53 and a fifty-two week high of $23.29.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Institutional investors have recently bought and sold shares of the company. True North Advisors LLC lifted its position in shares of Blackstone Mortgage Trust by 2.7% in the third quarter. True North Advisors LLC now owns 23,435 shares of the real estate investment trust's stock worth $446,000 after purchasing an additional 619 shares in the last quarter. AQR Capital Management LLC lifted its position in Blackstone Mortgage Trust by 2.5% during the 2nd quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust's stock worth $783,000 after buying an additional 1,111 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Blackstone Mortgage Trust by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 46,190 shares of the real estate investment trust's stock worth $805,000 after buying an additional 1,206 shares during the last quarter. Glassy Mountain Advisors Inc. grew its holdings in shares of Blackstone Mortgage Trust by 2.6% in the 3rd quarter. Glassy Mountain Advisors Inc. now owns 61,445 shares of the real estate investment trust's stock valued at $1,168,000 after acquiring an additional 1,534 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of Blackstone Mortgage Trust by 2.4% in the second quarter. Institute for Wealth Management LLC. now owns 67,634 shares of the real estate investment trust's stock valued at $1,178,000 after acquiring an additional 1,586 shares during the last quarter. 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.