JPMorgan Chase & Co. Lowers Blackstone Mortgage Trust (NYSE:BXMT) Price Target to $17.50

Blackstone Mortgage Trust (NYSE:BXMT) had its price objective cut by analysts at JPMorgan Chase & Co. from $18.50 to $17.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 1.16% from the company’s current price.

A number of other analysts have also recently weighed in on BXMT. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a “market perform” rating on the stock in a report on Tuesday, January 14th. Wolfe Research upgraded shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $20.14.

Blackstone Mortgage Trust Trading Down 3.0 %

Shares of NYSE BXMT opened at $17.71 on Tuesday. The business has a 50 day simple moving average of $18.35 and a 200-day simple moving average of $18.41. Blackstone Mortgage Trust has a twelve month low of $16.53 and a twelve month high of $21.50. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -12.74 and a beta of 1.50.

Institutional Trading of Blackstone Mortgage Trust

Several large investors have recently added to or reduced their stakes in BXMT. Harbor Capital Advisors Inc. acquired a new position in Blackstone Mortgage Trust during the 3rd quarter worth $39,000. McIlrath & Eck LLC acquired a new stake in Blackstone Mortgage Trust in the third quarter worth about $63,000. Future Financial Wealth Managment LLC acquired a new stake in Blackstone Mortgage Trust in the third quarter worth about $95,000. KBC Group NV grew its position in Blackstone Mortgage Trust by 39.3% in the 4th quarter. KBC Group NV now owns 7,601 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 2,145 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Blackstone Mortgage Trust during the 4th quarter valued at about $172,000. 64.15% 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 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.