Blackstone Mortgage Trust (NYSE:BXMT) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Blackstone Mortgage Trust (NYSE:BXMT) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

According to Zacks, “Blackstone Mortgage Trust, Inc. is a real estate investment trust. It operates as a real estate finance and investment management company. The company’s investment programs focuses on loans and securities backed by commercial real estate assets. Blackstone Mortgage Trust, Inc. formerly known as Capital Trust, Inc.is headquartered in New York. “

Separately, ValuEngine lowered shares of Blackstone Mortgage Trust from a buy rating to a hold rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and a consensus price target of $35.83.

Shares of NYSE:BXMT opened at $35.15 on Monday. The firm has a fifty day moving average of $35.50 and a two-hundred day moving average of $35.22. The firm has a market capitalization of $4.72 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 2.85 and a beta of 0.52. Blackstone Mortgage Trust has a 12-month low of $30.84 and a 12-month high of $36.77.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $106.48 million during the quarter, compared to analyst estimates of $103.55 million. Blackstone Mortgage Trust had a net margin of 46.31% and a return on equity of 9.06%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. Sell-side analysts expect that Blackstone Mortgage Trust will post 2.46 earnings per share for the current year.

In related news, CFO Anthony F. Marone, Jr. sold 749 shares of Blackstone Mortgage Trust stock in a transaction on Friday, August 9th. The shares were 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 of the company’s stock, valued at approximately $1,015,101.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Douglas N. Armer sold 915 shares of Blackstone Mortgage Trust stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.36, for a total transaction of $32,354.40. Following the completion of the sale, the executive vice president now directly 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 ninety days, insiders sold 2,898 shares of company stock valued at $103,529. 0.95% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Pacific Center for Financial Services acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at $30,000. HM Payson & Co. acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at $36,000. Huntington National Bank acquired a new stake in shares of Blackstone Mortgage Trust in the 2nd quarter valued at $37,000. Carroll Financial Associates Inc. acquired a new stake in shares of Blackstone Mortgage Trust in the 1st quarter valued at $48,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Blackstone Mortgage Trust by 83.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,352 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 616 shares during the last quarter. 56.30% of the stock is 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 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.

Further Reading: How does the Federal Reserve determine interest rates?

Get a free copy of the Zacks research report on Blackstone Mortgage Trust (BXMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Blackstone Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.