Blackstone Mortgage Trust Inc (BXMT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) from a sell rating to a hold rating in a research report released on Friday, April 14th.

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 brokerages also recently commented on BXMT. Bank of America Corp downgraded Blackstone Mortgage Trust from a buy rating to a neutral rating in a research note on Wednesday, December 21st. TheStreet upgraded Blackstone Mortgage Trust from a c rating to a b- rating in a research note on Thursday, February 16th. Keefe, Bruyette & Woods reiterated a buy rating and set a $32.00 target price on shares of Blackstone Mortgage Trust in a research note on Thursday, March 16th. FBR & Co reiterated a buy rating on shares of Blackstone Mortgage Trust in a research note on Wednesday, February 15th. Finally, Wells Fargo & Co downgraded Blackstone Mortgage Trust from an outperform rating to a market perform rating in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Blackstone Mortgage Trust has an average rating of Hold and a consensus target price of $32.50.

Shares of Blackstone Mortgage Trust (NYSE:BXMT) traded up 0.39% on Friday, reaching $30.51. The company’s stock had a trading volume of 276,622 shares. The stock has a market cap of $2.89 billion, a P/E ratio of 12.38 and a beta of 0.84. Blackstone Mortgage Trust has a 52-week low of $26.46 and a 52-week high of $31.53. The firm’s 50 day moving average is $30.76 and its 200-day moving average is $30.57.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.63 by $0.08. The company had revenue of $71.84 million during the quarter, compared to analysts’ expectations of $76.62 million. Blackstone Mortgage Trust had a return on equity of 9.35% and a net margin of 59.83%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities research analysts forecast that Blackstone Mortgage Trust will post $2.55 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Blackstone Mortgage Trust during the first quarter valued at approximately $108,000. Security National Trust Co. raised its position in Blackstone Mortgage Trust by 115.0% in the first quarter. Security National Trust Co. now owns 4,300 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 2,300 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Blackstone Mortgage Trust by 27.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,276 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 1,126 shares in the last quarter. First Manhattan Co. raised its position in Blackstone Mortgage Trust by 40.2% in the third quarter. First Manhattan Co. now owns 6,450 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 1,850 shares in the last quarter. Finally, WFG Advisors LP raised its position in Blackstone Mortgage Trust by 785.7% in the first quarter. WFG Advisors LP now owns 6,200 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 5,500 shares in the last quarter. Institutional investors own 71.56% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.

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