Blackstone Mortgage Trust (NYSE:BXMT) Receives Price Target Upgrade from JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) recently received a price target upgrade from JPMorgan Chase & Co., who increased their target from $17.50 to $20.00. This news was highlighted in a research report published on Tuesday. This revised price target signifies a potential downside of approximately 2.27% from the current market price of the stock. Along with this, JPMorgan has assigned a "neutral" rating to the stock, indicating a cautious approach towards the investment at this price point.

In addition to JPMorgan, other equity research firms have also issued their insights on Blackstone Mortgage Trust. For instance, Keefe, Bruyette & Woods raised their target price from $18.50 to $19.50, maintaining a "market perform" rating on February 13. Similarly, Wolfe Research upgraded their view from "peer perform" to "outperform" and set a price target of $20.00 back in December.

Currently, five analysts have rated Blackstone with a "hold" rating, while three have provided a "buy" rating. According to data from MarketBeat.com, the average rating for the stock is "Hold," with an average price target of $20.64.

Performance Update for Blackstone Mortgage Trust

As for recent trading activity, shares of Blackstone Mortgage Trust experienced a slight increase of 0.7%, reaching a price of $20.47 on Tuesday. The trading volume was 209,707 shares, contrasting with the average volume of 1,685,651 shares. Over the last year, the stock has fluctuated between a low of $16.53 and a high of $20.73. Currently, Blackstone Mortgage Trust boasts a market capitalization of around $3.54 billion, a P/E ratio of -14.71, and a beta of 1.50. It’s also important to note the stock’s moving averages: its 50-day moving average is $18.30, while the 200-day moving average stands at $18.41.

The company recently disclosed its quarterly earnings on February 12, where it reported earnings per share (EPS) of $0.39, significantly surpassing analysts' expectations, which were predicted at ($0.87). Blackstone Mortgage Trust's financial performance included a negative net margin of 12.91% while achieving a positive return on equity of 9.35%. Analysts predict that for the ongoing fiscal year, the company will post earnings of 1.95 EPS.

Institutional Investment Trends

In terms of institutional investments, there have been several recent movements. Smartleaf Asset Management LLC notably boosted its stake in Blackstone Mortgage Trust by 125.7% in the last quarter. They now own 2,162 shares valued at approximately $38,000 after acquiring an additional 1,204 shares. Harbor Capital Advisors acquired a new stake worth around $39,000 in the third quarter. Meanwhile, Huntington National Bank significantly increased its holdings by 1,672.9% in the fourth quarter, now owning 3,014 shares valued at about $52,000 after buying an additional 2,844 shares. Mountain Hill Investment Partners Corp. and McIlrath & Eck LLC also made new acquisitions during the fourth quarter, contributing to the fact that 64.15% of the stock is currently held by institutional investors and hedge funds.

Understanding Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc. operates as a real estate finance company. Its primary focus is on originating senior loans secured by commercial properties in regions such as North America, Europe, and Australia. The company specializes in originating and acquiring senior floating rate mortgage loans that are secured by first-priority mortgages on commercial real estate assets.

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