Blackstone Mortgage Trust (BXMT) Lowered to Hold at Deutsche Bank

Blackstone Mortgage Trust (NYSE:BXMT) was downgraded by Deutsche Bank from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat reports. They presently have a $34.50 price objective on the real estate investment trust’s stock, down from their previous price objective of $35.00. Deutsche Bank’s target price points to a potential upside of 0.91% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. ValuEngine lowered shares of Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $34.20.

BXMT traded down $0.40 during trading hours on Wednesday, hitting $34.19. 2,268,747 shares of the company’s stock were exchanged, compared to its average volume of 747,276. Blackstone Mortgage Trust has a 12-month low of $29.91 and a 12-month high of $35.70. The company has a market cap of $4.18 billion, a P/E ratio of 14.80, a PEG ratio of 2.75 and a beta of 0.58.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Blackstone Mortgage Trust had a net margin of 50.60% and a return on equity of 9.36%. The firm had revenue of $102.15 million for the quarter, compared to the consensus estimate of $95.88 million. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, research analysts predict that Blackstone Mortgage Trust will post 2.64 earnings per share for the current year.

In other news, CFO Anthony F. Marone, Jr. sold 1,055 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $34.83, for a total transaction of $36,745.65. Following the completion of the transaction, the chief financial officer now directly owns 30,623 shares in the company, valued at approximately $1,066,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Douglas N. Armer sold 3,211 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $34.87, for a total value of $111,967.57. Following the transaction, the treasurer now owns 76,270 shares of the company’s stock, valued at $2,659,534.90. The disclosure for this sale can be found here. Insiders sold 6,865 shares of company stock worth $239,077 over the last quarter. Company insiders own 0.96% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its holdings in Blackstone Mortgage Trust by 1.5% during the 4th quarter. Mackenzie Financial Corp now owns 20,465 shares of the real estate investment trust’s stock worth $652,000 after purchasing an additional 300 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in Blackstone Mortgage Trust by 30.8% during 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 last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Blackstone Mortgage Trust by 3.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,788 shares of the real estate investment trust’s stock worth $343,000 after purchasing an additional 367 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Blackstone Mortgage Trust by 2.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 20,860 shares of the real estate investment trust’s stock worth $665,000 after purchasing an additional 500 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Blackstone Mortgage Trust by 11.4% during the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,292 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 645 shares during the last quarter. 63.76% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: How to trade on quiet period expirations

Analyst Recommendations for Blackstone Mortgage Trust (NYSE:BXMT)

Receive News & Ratings for Blackstone Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit