JPMorgan Chase & Co. Lowers Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $17.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price target cut by JPMorgan Chase & Co. from $18.50 to $17.50 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 5.07% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Wolfe Research raised Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, December 11th. Keefe, Bruyette & Woods lowered their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “market perform” rating on the stock in a report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Blackstone Mortgage Trust has an average rating of “Hold” and an average price target of $20.14.

Blackstone Mortgage Trust Price Performance

Shares of BXMT stock opened at $18.44 on Tuesday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -13.26 and a beta of 1.50. The company’s fifty day simple moving average is $18.37 and its two-hundred day simple moving average is $18.39. Blackstone Mortgage Trust has a 1 year low of $16.53 and a 1 year high of $21.50.

Institutional Investors Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. True North Advisors LLC increased its holdings in shares of Blackstone Mortgage Trust by 2.4% in the 4th quarter. True North Advisors LLC now owns 23,993 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 558 shares during the last quarter. AQR Capital Management LLC grew its position in Blackstone Mortgage Trust by 2.5% in the second quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock worth $783,000 after acquiring an additional 1,111 shares in the last quarter. MBM Wealth Consultants LLC increased its stake in Blackstone Mortgage Trust by 9.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 13,737 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 1,208 shares during the last quarter. Glassy Mountain Advisors Inc. increased its stake in Blackstone Mortgage Trust by 2.6% in the third 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 during the last quarter. Finally, FMR LLC raised its position in Blackstone Mortgage Trust by 11.4% during the third quarter. FMR LLC now owns 17,812 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 1,827 shares in the last quarter. 64.15% of the stock is owned by hedge funds and other institutional investors.

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.