Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Receives Average Recommendation of “Hold” from Brokerages

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.08.

Separately, Wells Fargo & Company lifted their target price on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th.

Blackstone Mortgage Trust Stock Down 1.5 %

Shares of BXMT opened at $18.81 on Wednesday. The company has a market capitalization of $3.25 billion, a P/E ratio of -13.53 and a beta of 1.50. Blackstone Mortgage Trust has a twelve month low of $16.53 and a twelve month high of $23.29. The firm has a 50 day moving average of $18.59 and a 200 day moving average of $18.23.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Blackstone Mortgage Trust during the second quarter valued at $10,656,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 2nd quarter valued at about $3,061,000. Intech Investment Management LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 3rd quarter valued at about $821,000. Gabelli Funds LLC boosted its holdings in shares of Blackstone Mortgage Trust by 30.1% in the second quarter. Gabelli Funds LLC now owns 237,500 shares of the real estate investment trust’s stock worth $4,137,000 after buying an additional 55,000 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Blackstone Mortgage Trust during the third quarter valued at approximately $24,103,000. 64.15% of the stock is owned by 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.