Credit Suisse Group lowers Blackstone Mortgage Trust (NYSE:BXMT) target price to $30.00

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Blackstone Mortgage Trust (NYSE:BXMT – Get a Rating) had its price target lowered by investment analysts Credit Suisse Group to $30.00 in a research note released on Friday, Stock Target Advisor reports. Credit Suisse Group’s price target would suggest a potential upside of 2.85% from the current share price.

Separately, StockNews.com launched coverage on Blackstone Mortgage Trust shares in a Thursday, March 31 research report. They issued a “hold” rating on the stock.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT were down $0.31 in Friday’s midday session, hitting $29.17. 1,121,403 shares of the company were traded, against an average volume of 1,481,348. The company has a 50-day moving average of $29.18 and a 200-day moving average of $30.59. The stock has a market capitalization of $4.97 billion, a price-earnings ratio of 10.46 and a beta of 1.22. Blackstone Mortgage Trust has a 52-week low of $25.99 and a 52-week high of $34.04.

Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) last released quarterly earnings data on Wednesday, April 27. The real estate investment trust reported earnings per share of $0.62 for the quarter, missing consensus analyst estimates of $0.64 per ($0.02). Blackstone Mortgage Trust had a return on equity of 8.75% and a net margin of 54.55%. The company posted revenue of $133.72 million in the quarter, compared to $133.75 million expected by analysts. During the same period last year, the company earned earnings per share of $0.53. The company’s revenue for the quarter increased by 22.5% compared to the same quarter last year. Sell-side analysts expect Blackstone Mortgage Trust to post earnings per share of 2.31 for the current fiscal year.

Insider buying and selling

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In other Blackstone Mortgage Trust news, Director Jonathan Lee Pollack bought 13,500 shares of Blackstone Mortgage Trust in a trade that took place on Thursday June 16th. The shares were purchased at an average price of $26.16 per share, with a total value of $353,160.00. Following the completion of the acquisition, the administrator now directly owns 114,683 shares of the company, valued at approximately $3,000,107.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Separately, Chief Financial Officer Anthony F. Marone, Jr. sold 967 shares of Blackstone Mortgage Trust in a trade dated Thursday, June 9. The shares were sold at an average price of $30.62, for a total value of $29,609.54. Following the sale, the CFO now owns 45,246 shares of the company, valued at $1,385,432.52. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, director Jonathan Lee Pollack purchased 13,500 shares of the company in a trade dated Thursday, June 16. The stock was purchased at an average price of $26.16 per share, for a total transaction of $353,160.00. Following the transaction, the director now owns 114,683 shares of the company, valued at $3,000,107.28. Disclosure of this purchase can be found here. Insiders sold a total of 11,162 shares of the company worth $340,338 in the past 90 days. Insiders own 1.06% of the shares of the company.

Hedge funds weigh on Blackstone Mortgage Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Blackstone Mortgage Trust by 8.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,847,508 shares of the real estate investment trust worth $56,571,000 after acquiring an additional 145,059 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Blackstone Mortgage Trust by 7.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 386,688 shares of the real estate investment trust valued at $11,840,000 after acquiring an additional 25,636 shares during the period. GraniteShares Advisors LLC purchased a new equity stake in Blackstone Mortgage Trust in Q4, valued at approximately $680,000. Squarepoint Ops LLC increased its stake in shares of Blackstone Mortgage Trust by 84.6% in Q4. Squarepoint Ops LLC now owns 49,203 shares of the real estate investment trust valued at $1,507,000 after acquiring an additional 22,555 shares during the period. Finally, the John & Kathleen Schreiber Foundation purchased a new equity stake in Blackstone Mortgage Trust in Q4, valued at approximately $3,312,000. 55.13% of the shares are currently held by institutional investors and hedge funds.

Blackstone Mortgage Trust Company Profile

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Blackstone Mortgage Trust, Inc, a real estate finance company, issues senior loans secured by commercial properties in North America, Europe and Australia. The Company operates as a real estate investment trust for federal income tax purposes. It would generally not be subject to US federal income tax if it distributed at least 90% of its taxable income to its shareholders.

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