Traders sold shares of Blackstone Mortgage Trust Inc (NYSE:BXMT) on strength during trading hours on Monday. $4.12 million flowed into the stock on the tick-up and $12.26 million flowed out of the stock on the tick-down, for a money net flow of $8.14 million out of the stock. Of all companies tracked, Blackstone Mortgage Trust had the 0th highest net out-flow for the day. Blackstone Mortgage Trust traded up $0.08 for the day and closed at $31.89
BXMT has been the topic of a number of analyst reports. B. Riley set a $33.00 target price on Blackstone Mortgage Trust and gave the company a “buy” rating in a research note on Thursday, February 15th. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods cut Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. cut Blackstone Mortgage Trust from an “overweight” rating to a “neutral” rating in a research note on Tuesday, February 6th. Finally, Wells Fargo initiated coverage on Blackstone Mortgage Trust in a research note on Wednesday, December 6th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $33.60.
The company has a market capitalization of $3,450.31, a P/E ratio of 14.03, a P/E/G ratio of 2.64 and a beta of 0.57.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Blackstone Mortgage Trust by 61.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,423 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 1,677 shares during the period. Dynasty Wealth Management LLC purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $467,000. Dean Capital Management boosted its holdings in shares of Blackstone Mortgage Trust by 22.4% in the fourth quarter. Dean Capital Management now owns 137,230 shares of the real estate investment trust’s stock valued at $4,416,000 after purchasing an additional 25,135 shares during the period. Millennium Management LLC purchased a new stake in shares of Blackstone Mortgage Trust in the fourth quarter valued at approximately $12,328,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Blackstone Mortgage Trust by 29.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 75,869 shares of the real estate investment trust’s stock valued at $2,441,000 after purchasing an additional 17,407 shares during the period. 61.15% of the stock is currently owned by hedge funds and other institutional investors.
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About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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