Blackstone Mortgage Trust (NYSE:BXMT) Raised to “Outperform” at Wolfe Research

Blackstone Mortgage Trust (NYSE:BXMT) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $20.00 price target on the real estate investment trust’s stock. Wolfe Research’s price objective indicates a potential upside of 3.82% from the stock’s current price.

Separately, Wells Fargo & Company increased their target price on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.07.

Blackstone Mortgage Trust Trading Up 0.2 %

Shares of Blackstone Mortgage Trust stock opened at $19.27 on Wednesday. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -13.84 and a beta of 1.50. The firm’s 50-day moving average price is $18.57 and its two-hundred day moving average price is $18.28. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $23.29.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True North Advisors LLC raised its position in shares of Blackstone Mortgage Trust by 2.7% during the third quarter. True North Advisors LLC now owns 23,435 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 619 shares during the period. AQR Capital Management LLC grew its stake in shares of Blackstone Mortgage Trust by 2.5% in the second quarter. AQR Capital Management LLC now owns 44,940 shares of the real estate investment trust’s stock valued at $783,000 after buying an additional 1,111 shares in the last quarter. Arizona State Retirement System increased its holdings in Blackstone Mortgage Trust by 2.7% during the second quarter. Arizona State Retirement System now owns 46,190 shares of the real estate investment trust’s stock worth $805,000 after buying an additional 1,206 shares during the last quarter. Glassy Mountain Advisors Inc. raised its position in Blackstone Mortgage Trust by 2.6% during the third quarter. Glassy Mountain Advisors Inc. now owns 61,445 shares of the real estate investment trust’s stock worth $1,168,000 after acquiring an additional 1,534 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its stake in Blackstone Mortgage Trust by 2.4% in the second quarter. Institute for Wealth Management LLC. now owns 67,634 shares of the real estate investment trust’s stock valued at $1,178,000 after acquiring an additional 1,586 shares during the last quarter. Institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

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.