Capital Trust, Inc. (NYSE:BXMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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 weighed in on BXMT. Keefe, Bruyette & Woods restated a “buy” rating and set a $33.00 target price on shares of Capital Trust in a research note on Thursday, August 10th. FBR & Co raised their target price on Capital Trust from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, BidaskClub downgraded Capital Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.
Capital Trust (NYSE:BXMT) last announced its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $78.60 million during the quarter, compared to the consensus estimate of $74.35 million. Capital Trust had a return on equity of 8.63% and a net margin of 53.85%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share.
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A number of large investors have recently bought and sold shares of BXMT. BlackRock Inc. grew its stake in Capital Trust by 1,288,745.4% in the first quarter. BlackRock Inc. now owns 4,175,859 shares of the real estate investment trust’s stock worth $129,284,000 after purchasing an additional 4,175,535 shares in the last quarter. Vanguard Group Inc. grew its stake in Capital Trust by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,265,081 shares of the real estate investment trust’s stock worth $224,927,000 after purchasing an additional 392,562 shares in the last quarter. Renaissance Technologies LLC grew its stake in Capital Trust by 211.8% in the first quarter. Renaissance Technologies LLC now owns 563,180 shares of the real estate investment trust’s stock worth $17,436,000 after purchasing an additional 382,560 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Capital Trust in the second quarter worth about $3,700,000. Finally, Principal Financial Group Inc. grew its stake in Capital Trust by 50.0% in the first quarter. Principal Financial Group Inc. now owns 213,187 shares of the real estate investment trust’s stock worth $6,600,000 after purchasing an additional 71,096 shares in the last quarter. Institutional investors and hedge funds own 61.38% of the company’s stock.
About Capital Trust
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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