Blackstone Mortgage Trust (BXMT) Rating Lowered to Hold at Zacks Investment Research

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Blackstone Mortgage Trust (NYSE:BXMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

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. “

A number of other analysts also recently issued reports on the stock. Credit Suisse Group raised their price target on shares of Blackstone Mortgage Trust from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Citigroup initiated coverage on shares of Blackstone Mortgage Trust in a report on Friday, October 12th. They set a “neutral” rating and a $33.00 price target on the stock. BTIG Research initiated coverage on shares of Blackstone Mortgage Trust in a report on Monday, October 8th. They set a “neutral” rating on the stock. Finally, ValuEngine raised shares of Blackstone Mortgage Trust from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Blackstone Mortgage Trust has a consensus rating of “Hold” and an average target price of $34.75.

Shares of NYSE BXMT opened at $33.66 on Monday. The stock has a market cap of $3.91 billion, a PE ratio of 14.57, a P/E/G ratio of 2.55 and a beta of 0.47. Blackstone Mortgage Trust has a 52-week low of $29.51 and a 52-week high of $34.58.

Blackstone Mortgage Trust (NYSE:BXMT) last announced its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $105.15 million for the quarter, compared to the consensus estimate of $97.06 million. Blackstone Mortgage Trust had a net margin of 50.60% and a return on equity of 9.36%. During the same quarter last year, the firm posted $0.69 EPS. As a group, sell-side analysts forecast that Blackstone Mortgage Trust will post 2.6 earnings per share for the current year.

In other news, Treasurer Douglas N. Armer sold 803 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $34.00, for a total transaction of $27,302.00. Following the sale, the treasurer now owns 62,196 shares of the company’s stock, valued at approximately $2,114,664. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 2,253 shares of company stock worth $75,462. Insiders own 0.96% of the company’s stock.

Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Blackstone Mortgage Trust by 42.8% in the 3rd quarter. Acadian Asset Management LLC now owns 959,654 shares of the real estate investment trust’s stock worth $32,159,000 after purchasing an additional 287,566 shares during the period. Round Table Services LLC lifted its stake in shares of Blackstone Mortgage Trust by 35.0% in the 3rd quarter. Round Table Services LLC now owns 9,500 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 2,465 shares during the period. Moody Lynn & Lieberson LLC lifted its stake in shares of Blackstone Mortgage Trust by 99.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 202,560 shares of the real estate investment trust’s stock worth $6,788,000 after purchasing an additional 100,821 shares during the period. Waratah Capital Advisors Ltd. bought a new position in shares of Blackstone Mortgage Trust in the 3rd quarter worth approximately $1,517,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Blackstone Mortgage Trust by 12.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 127,885 shares of the real estate investment trust’s stock worth $4,271,000 after purchasing an additional 14,296 shares during the period. Hedge funds and other institutional investors own 62.10% of the company’s stock.

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.

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