Blackstone Mortgage Trust (NYSE:BXMT - Get Free Report) had its price target decreased by equities researchers at Keefe, Bruyette & Woods from $19.00 to $18.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 3.01% from the stock's current price.
Several other brokerages also recently weighed in on BXMT. 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 report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.14.
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Blackstone Mortgage Trust Stock Performance
Shares of NYSE:BXMT traded up $0.56 during trading on Tuesday, hitting $17.96. The company's stock had a trading volume of 1,905,267 shares, compared to its average volume of 2,106,218. Blackstone Mortgage Trust has a fifty-two week low of $16.53 and a fifty-two week high of $21.50. The business has a 50 day moving average price of $18.41 and a two-hundred day moving average price of $18.37. The company has a market capitalization of $3.11 billion, a PE ratio of -12.92 and a beta of 1.50.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in BXMT. Point72 Asset Management L.P. purchased a new position in Blackstone Mortgage Trust in the 2nd quarter valued at approximately $10,656,000. Intech Investment Management LLC acquired a new position in Blackstone Mortgage Trust during the third quarter worth about $821,000. Tidal Investments LLC purchased a new stake in shares of Blackstone Mortgage Trust in the third quarter valued at about $883,000. Stifel Financial Corp lifted its holdings in shares of Blackstone Mortgage Trust by 15.4% in the third quarter. Stifel Financial Corp now owns 70,381 shares of the real estate investment trust's stock valued at $1,338,000 after purchasing an additional 9,405 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new stake in shares of Blackstone Mortgage Trust in the third quarter valued at approximately $211,000. 64.15% of the stock is owned by hedge funds and other institutional investors.
About Blackstone Mortgage Trust
(
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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.
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