Blackstone Mortgage Trust (NYSE:BXMT) Given New $22.00 Price Target at Wells Fargo & Company

Blackstone Mortgage Trust (NYSE:BXMT) had its target price raised by research analysts at Wells Fargo & Company from $19.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 8.64% from the stock’s current price.

BXMT has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $18.00 price objective on shares of Blackstone Mortgage Trust in a report on Tuesday, June 18th. BTIG Research reissued a “buy” rating and set a $23.00 price target on shares of Blackstone Mortgage Trust in a research report on Friday, July 19th. Wolfe Research assumed coverage on shares of Blackstone Mortgage Trust in a report on Tuesday, June 25th. They issued a “peer perform” rating on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Blackstone Mortgage Trust in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.08.

Blackstone Mortgage Trust Stock Performance

BXMT traded up $0.02 on Friday, hitting $20.25. The company had a trading volume of 1,161,537 shares, compared to its average volume of 2,023,367. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 675.00 and a beta of 1.49. The stock has a fifty day moving average price of $18.29 and a 200-day moving average price of $18.38. Blackstone Mortgage Trust has a 12-month low of $16.53 and a 12-month high of $23.29.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. The business had revenue of $466.15 million during the quarter, compared to the consensus estimate of $131.87 million. Blackstone Mortgage Trust had a positive return on equity of 10.16% and a negative net margin of 7.98%. During the same quarter last year, the company earned $0.75 earnings per share. Analysts forecast that Blackstone Mortgage Trust will post 1.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Blackstone Mortgage Trust news, Director Henry N. Nassau acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $17.52 per share, with a total value of $175,200.00. Following the completion of the acquisition, the director now owns 165,557 shares in the company, valued at $2,900,558.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Henry N. Nassau bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $17.52 per share, for a total transaction of $175,200.00. Following the completion of the transaction, the director now directly owns 165,557 shares in the company, valued at $2,900,558.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy Steven Johnson purchased 57,050 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $17.50 per share, for a total transaction of $998,375.00. Following the completion of the purchase, the director now directly owns 423,251 shares in the company, valued at approximately $7,406,892.50. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 83,050 shares of company stock valued at $1,448,135 and sold 1,495 shares valued at $27,899. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of BXMT. Norges Bank purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $38,747,000. Cibc World Markets Corp acquired a new stake in shares of Blackstone Mortgage Trust in the 4th quarter worth $1,222,000. Quadrature Capital Ltd increased its stake in shares of Blackstone Mortgage Trust by 229.8% in the 1st quarter. Quadrature Capital Ltd now owns 49,743 shares of the real estate investment trust’s stock worth $990,000 after acquiring an additional 34,659 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of Blackstone Mortgage Trust by 160.0% during the 2nd quarter. Transcend Capital Advisors LLC now owns 69,264 shares of the real estate investment trust’s stock worth $1,207,000 after acquiring an additional 42,623 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Blackstone Mortgage Trust during the 1st quarter valued at about $1,069,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.

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.