Blackstone Mortgage Trust (NYSE:BXMT) Stock Price Target Cut by UBS Group

Blackstone Mortgage Trust (NYSE:BXMT) had its target price reduced by research analysts at UBS Group from $21.00 to $14.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group‘s price objective would suggest a potential upside of 26.50% from the company’s current price.

Several other research firms have also weighed in on BXMT. Citigroup reiterated a “market perform” rating on shares of Blackstone Mortgage Trust in a research note on Tuesday, August 25th. JPMorgan Chase & Co. dropped their price target on Blackstone Mortgage Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen downgraded Blackstone Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods reduced their price objective on Blackstone Mortgage Trust from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Raymond James Financial downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.00.

Blackstone Mortgage Trust Stock Down 2.1%

Shares of NYSE:BXMT traded down $0.23 on Tuesday, reaching $11.07. 788,619 shares of the company’s stock were exchanged, compared to its average volume of 1,966,095. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -4.97, a PEG ratio of 0.24 and a beta of 0.90. Blackstone Mortgage Trust has a fifty-two week low of $10.11 and a fifty-two week high of $20.67. The business’s 50-day moving average is $12.18 and its two-hundred day moving average is $16.67.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.14. Blackstone Mortgage Trust had a net margin of 1.57% and a return on equity of 7.72%. The company had revenue of $141.90 million for the quarter, compared to the consensus estimate of $148.60 million. Analysts predict that Blackstone Mortgage Trust will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Blackstone Mortgage Trust by 21.9% during the first quarter. Bank of America Corp DE now owns 1,297,062 shares of the real estate investment trust’s stock valued at $24,839,000 after buying an additional 233,357 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Blackstone Mortgage Trust in the 2nd quarter worth approximately $18,109,000. Principal Financial Group Inc. grew its holdings in Blackstone Mortgage Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 770,901 shares of the real estate investment trust’s stock worth $14,763,000 after buying an additional 19,423 shares in the last quarter. Dupree Financial Group LLC increased its position in Blackstone Mortgage Trust by 85.1% in the 3rd quarter. Dupree Financial Group LLC now owns 596,835 shares of the real estate investment trust’s stock valued at $6,834,000 after acquiring an additional 274,361 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its position in Blackstone Mortgage Trust by 0.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 483,624 shares of the real estate investment trust’s stock valued at $9,261,000 after acquiring an additional 2,971 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc is a real estate investment trust that originates and manages senior loans secured by commercial properties. The company primarily provides floating-rate mortgage financing to owners and sponsors of institutional-quality real estate, earning income from interest and other fees associated with its lending activities.

Its loan portfolio has historically included properties across sectors such as office, multifamily, hotel, industrial, retail and life sciences.