Brokerages Set Blackstone Mortgage Trust Inc (NYSE:BXMT) Price Target at $34.17

Blackstone Mortgage Trust Inc (NYSE:BXMT) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating. The average 1-year price target among analysts that have covered the stock in the last year is $33.75.

BXMT has been the subject of a number of recent research reports. Zacks Investment Research upgraded Blackstone Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Monday. ValuEngine downgraded Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

In related news, CFO Anthony F. Marone, Jr. sold 749 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $35.42, for a total value of $26,529.58. Following the completion of the sale, the chief financial officer now owns 28,659 shares in the company, valued at $1,015,101.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas N. Armer sold 915 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.36, for a total value of $32,354.40. Following the completion of the sale, the executive vice president now owns 71,637 shares of the company’s stock, valued at approximately $2,533,084.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,898 shares of company stock valued at $103,529. 0.95% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXMT. Moors & Cabot Inc. grew its stake in Blackstone Mortgage Trust by 16.0% in the second quarter. Moors & Cabot Inc. now owns 14,392 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 1,982 shares during the period. Northeast Financial Consultants Inc boosted its position in shares of Blackstone Mortgage Trust by 23.4% during the first quarter. Northeast Financial Consultants Inc now owns 522,374 shares of the real estate investment trust’s stock worth $18,053,000 after buying an additional 99,115 shares during the period. Lido Advisors LLC boosted its position in shares of Blackstone Mortgage Trust by 47.0% during the first quarter. Lido Advisors LLC now owns 10,509 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 3,359 shares during the period. Stephens Group Asset Management LLC boosted its position in Blackstone Mortgage Trust by 24.3% during the second quarter. Stephens Group Asset Management LLC now owns 25,575 shares of the real estate investment trust’s stock valued at $910,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its position in Blackstone Mortgage Trust by 2.1% during the second quarter. Naples Global Advisors LLC now owns 32,737 shares of the real estate investment trust’s stock valued at $1,165,000 after purchasing an additional 665 shares during the last quarter. Institutional investors and hedge funds own 56.30% of the company’s stock.

BXMT traded down $0.02 during trading on Friday, hitting $35.13. The company’s stock had a trading volume of 14,454 shares, compared to its average volume of 1,006,822. The firm’s 50 day moving average price is $35.50 and its two-hundred day moving average price is $35.22. Blackstone Mortgage Trust has a 12 month low of $30.84 and a 12 month high of $36.77. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $106.48 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.83 earnings per share. As a group, analysts predict that Blackstone Mortgage Trust will post 2.46 earnings per share for the current year.

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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