JPMorgan Chase & Co. Increases Price Target for Blackstone Mortgage Trust

Blackstone Mortgage Trust (NYSE:BXMT) has received an increase in its price target from JPMorgan Chase & Co., which reported on Tuesday that the target has been raised from $17.50 to $20.00. Despite the increase, the bank maintains a "neutral" rating on the stock, indicating a cautious approach. This revised price target suggests a potential downside of approximately 2.27% based on the company's current trading price.

Additional research firms have also shared their insights regarding Blackstone Mortgage Trust. For instance, Keefe, Bruyette & Woods recently boosted their price target from $18.50 to $19.50 and assigned a "market perform" rating in a report published on February 13th. Wolfe Research upgraded the company's rating from "peer perform" to "outperform," setting a price objective of $20.00 in their report dated December 11th.

Currently, among analysts covering Blackstone Mortgage Trust, five have rated the stock as a hold, while three analysts have given it a buy rating. According to data from MarketBeat.com, the stock has an average price target of $20.64, indicating some optimism compared to JPMorgan's new target.

Current Stock Performance

On Tuesday, Blackstone Mortgage Trust saw its shares increase by 0.7%, trading at $20.47. The trading volume reached 209,707 shares, which is notably lower than the average volume of 1,685,651 shares. The stock has experienced a 52-week low of $16.53 and a high of $20.73, with a market capitalization of approximately $3.54 billion. Presently, it holds a PE ratio of -14.71, with a beta of 1.50, reflecting its volatility in the market. The share prices are stabilized around a 50-day moving average of $18.30 and a 200-day moving average of $18.41.

In its latest quarterly earnings report released on February 12th, Blackstone Mortgage Trust delivered an earnings-per-share of $0.39, surpassing analysts' predictions of a loss of $0.87 by a significant margin. Despite this positive performance, the company reported a negative net margin of 12.91%, although it achieved a positive return on equity of 9.35%. For the current fiscal year, analysts estimate that the company will report earnings of approximately $1.95 per share.

Institutional Investment Activity

Recent movements in institutional investing have seen several firms adjusting their stakes in Blackstone Mortgage Trust. Smartleaf Asset Management LLC significantly increased its ownership by 125.7% in the fourth quarter, now holding 2,162 shares valued at $38,000 after buying an additional 1,204 shares. In the third quarter, Harbor Capital Advisors Inc. acquired a new stake worth around $39,000. Other institutions like Huntington National Bank and Mountain Hill Investment Partners Corp. have also expanded their holdings significantly, reflecting a broader interest in the stock.

Understanding Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc. is a specialist in real estate finance, focusing on originating senior loans that are secured by commercial properties across North America, Europe, and Australia. The company is involved in acquiring senior floating-rate mortgage loans backed by first-priority mortgages on commercial real estate assets, positioning it as a significant player in the real estate investment sector.

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