Zacks Investment Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a sell rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “
Several other equities analysts have also recently issued reports on BXMT. JMP Securities reissued a hold rating on shares of Blackstone Mortgage Trust in a report on Sunday, February 17th. ValuEngine cut Blackstone Mortgage Trust from a buy rating to a hold rating in a report on Tuesday, February 12th. Deutsche Bank cut Blackstone Mortgage Trust from a buy rating to a hold rating and decreased their price objective for the company from $35.00 to $34.50 in a report on Wednesday, February 13th. Finally, TheStreet raised Blackstone Mortgage Trust from a c+ rating to a b+ rating in a report on Wednesday, October 31st. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $34.63.
Blackstone Mortgage Trust stock opened at $34.32 on Wednesday. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.78 and a beta of 0.58. Blackstone Mortgage Trust has a fifty-two week low of $30.14 and a fifty-two week high of $35.70.
Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The business had revenue of $102.15 million for the quarter, compared to the consensus estimate of $95.88 million. Blackstone Mortgage Trust had a return on equity of 9.58% and a net margin of 51.44%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, equities research analysts forecast that Blackstone Mortgage Trust will post 2.46 earnings per share for the current year.
In related news, CFO Anthony F. Marone, Jr. sold 1,055 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $34.83, for a total value of $36,745.65. Following the completion of the transaction, the chief financial officer now owns 30,623 shares of the company’s stock, valued at approximately $1,066,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Douglas N. Armer sold 3,211 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $34.87, for a total value of $111,967.57. Following the completion of the transaction, the treasurer now directly owns 76,270 shares of the company’s stock, valued at approximately $2,659,534.90. The disclosure for this sale can be found here. In the last three months, insiders sold 5,735 shares of company stock valued at $199,607. Insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. Riverview Trust Co acquired a new position in Blackstone Mortgage Trust in the 4th quarter worth about $32,000. Advisory Services Network LLC raised its holdings in Blackstone Mortgage Trust by 72.0% in the 4th quarter. Advisory Services Network LLC now owns 1,175 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 492 shares during the period. Winslow Evans & Crocker Inc. raised its holdings in Blackstone Mortgage Trust by 30.8% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 1,486 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 350 shares during the period. Nisa Investment Advisors LLC raised its holdings in Blackstone Mortgage Trust by 153.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,650 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,000 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in Blackstone Mortgage Trust by 59.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,026 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 759 shares during the period. 64.42% of the stock is owned by institutional investors.
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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