Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm presently has a $40.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.89% from the company’s current price.
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. “
BXMT has been the topic of a number of other research reports. ValuEngine downgraded Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. JMP Securities reaffirmed a “hold” rating on shares of Blackstone Mortgage Trust in a research note on Sunday, February 17th. Finally, Deutsche Bank downgraded Blackstone Mortgage Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $35.00 to $34.50 in a research note on Wednesday, February 13th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $35.63.
Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.11. The company had revenue of $106.07 million for the quarter, compared to the consensus estimate of $98.89 million. Blackstone Mortgage Trust had a return on equity of 9.89% and a net margin of 48.22%. During the same quarter in the prior year, the business posted $0.64 EPS. Analysts predict that Blackstone Mortgage Trust will post 2.46 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in Blackstone Mortgage Trust during the 4th quarter worth $32,000. Advisory Services Network LLC raised its stake in shares of Blackstone Mortgage Trust by 72.0% in the 4th quarter. Advisory Services Network LLC now owns 1,175 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 492 shares during the period. Carroll Financial Associates Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the 1st quarter valued at about $48,000. Winslow Evans & Crocker Inc. raised its stake in shares of Blackstone Mortgage Trust by 30.8% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 1,486 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 350 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Blackstone Mortgage Trust by 153.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,650 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,000 shares during the period. 61.92% of the stock is currently 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, Europe, and Australia. 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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