Blackstone Mortgage Trust (NYSE:BXMT) Raised to “Hold” at Zacks Investment Research

Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine lowered Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Blackstone Mortgage Trust currently has a consensus rating of “Hold” and a consensus price target of $35.63.

Shares of Blackstone Mortgage Trust stock traded up $0.21 during trading on Tuesday, reaching $34.87. The company’s stock had a trading volume of 1,004,926 shares, compared to its average volume of 907,356. The stock has a market capitalization of $4.68 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. The company has a 50-day moving average price of $35.70. Blackstone Mortgage Trust has a 1-year low of $30.84 and a 1-year high of $36.77.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.01. The company had revenue of $106.48 million during the quarter, compared to analyst estimates of $103.55 million. Blackstone Mortgage Trust had a return on equity of 9.06% and a net margin of 46.31%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. As a group, equities research analysts predict that Blackstone Mortgage Trust will post 2.46 EPS for the current fiscal year.

In other Blackstone Mortgage Trust news, Treasurer Douglas N. Armer sold 1,913 shares of Blackstone Mortgage Trust stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $35.46, for a total transaction of $67,834.98. Following the completion of the transaction, the treasurer now owns 74,383 shares in the company, valued at approximately $2,637,621.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony F. Marone, Jr. sold 793 shares of Blackstone Mortgage Trust stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $35.45, for a total value of $28,111.85. Following the transaction, the chief financial officer now owns 29,824 shares of the company’s stock, valued at approximately $1,057,260.80. The disclosure for this sale can be found here. Insiders sold a total of 4,073 shares of company stock valued at $145,310 in the last 90 days. 0.95% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank purchased a new position in shares of Blackstone Mortgage Trust during the 2nd quarter valued at about $37,000. Advisory Services Network LLC increased 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 in the last quarter. Carroll Financial Associates Inc. purchased a new position in shares of Blackstone Mortgage Trust in the 1st quarter valued at about $48,000. Winslow Evans & Crocker Inc. increased its stake in shares of Blackstone Mortgage Trust by 25.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,486 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 300 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Blackstone Mortgage Trust in the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 55.17% 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, 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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