JPMorgan Raises Price Target for Blackstone Mortgage Trust

Recently, equity research analysts at JPMorgan Chase & Co. raised the price target for Blackstone Mortgage Trust (NYSE:BXMT) from $17.50 to $20.00. This adjustment was part of a research report released on Tuesday. Along with the price target increase, JPMorgan maintained a "neutral" rating on the shares of the real estate investment trust.

This new price target suggests a potential downside of approximately 2.27% from Blackstone Mortgage Trust's current stock price. Other research firms have also provided their assessments regarding the stock. For instance, in a report dated February 13th, Keefe, Bruyette & Woods increased its price target from $18.50 to $19.50, while assigning a "market perform" rating.

Recent Analyst Ratings

Furthermore, Wolfe Research elevated its rating on Blackstone Mortgage Trust from "peer perform" to "outperform," and set a price target of $20.00 back on December 11th. Analysis indicates that a total of five investment analysts have categorized the stock with a hold rating, while three others have given it a buy rating. As per data sourced from MarketBeat.com, the average rating for the stock stands at "Hold," with an average price target of $20.64.

Current Stock Performance

On Tuesday, shares of Blackstone Mortgage Trust rose by 0.7%, reaching a price of $20.47. The trading volume for the day was recorded at 209,707 shares, contrasting with its average trading volume of 1,685,651. Over the past year, the stock has fluctuated between a low of $16.53 and a high of $20.73. Currently, it holds a market capitalization of $3.54 billion, a PE ratio of -14.71, and a beta of 1.50. The 50-day and 200-day moving averages for the stock are $18.30 and $18.41, respectively.

Company Earnings

Blackstone Mortgage Trust recently released its quarterly earnings on February 12th, reporting an earnings per share (EPS) of $0.39, which surpassed analysts' expectations of ($0.87) by a significant margin of $1.26. Despite this, the company recorded a negative net margin of 12.91%, but managed a positive return on equity of 9.35%. Analysts anticipate that Blackstone Mortgage Trust will achieve an EPS of 1.95 for the current fiscal year.

Institutional Investment Trends

In recent times, institutional investors have been active in buying and selling shares of Blackstone Mortgage Trust. Notably, Smartleaf Asset Management LLC boosted its stake by 125.7% during the fourth quarter, accumulating 2,162 shares valued at $38,000 after purchasing an additional 1,204 shares. In the same quarter, Huntington National Bank significantly grew its stake by 1,672.9%, totaling 3,014 shares valued at $52,000 after acquiring 2,844 additional shares.

In total, 64.15% of Blackstone Mortgage Trust's stock is currently owned by institutional investors and hedge funds, highlighting the popularity of this investment trust among larger investment entities.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc. is a company involved in real estate finance. It primarily originates senior loans that are backed by commercial properties located in regions such as North America, Europe, and Australia. The firm focuses on acquiring senior floating-rate mortgage loans that are supported by a first-priority mortgage on various commercial real estate assets.

Blackstone, Finance, Stock