Capital Trust, Inc. (BXMT) Upgraded at Zacks Investment Research
Capital Trust, Inc. (NYSE:BXMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Several other research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Capital Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Capital Trust in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.00.
Capital Trust (BXMT) traded down 0.29% during trading on Thursday, hitting $31.00. 435,131 shares of the stock were exchanged. The stock’s 50 day moving average price is $31.03 and its 200 day moving average price is $31.03. Capital Trust has a 12 month low of $27.89 and a 12 month high of $32.47. The stock has a market cap of $2.94 billion, a P/E ratio of 13.33 and a beta of 0.80.
Capital Trust (NYSE:BXMT) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.02). Capital Trust had a net margin of 55.05% and a return on equity of 8.76%. The company had revenue of $72.47 million during the quarter, compared to analyst estimates of $74.82 million. During the same quarter in the previous year, the company posted $0.67 EPS. Analysts forecast that Capital Trust will post $2.48 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Capital Trust by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 7,265,081 shares of the real estate investment trust’s stock worth $224,927,000 after purchasing an additional 392,562 shares during the period. Blackstone Group L.P. boosted its stake in Capital Trust by 1.9% during the 1st quarter. Blackstone Group L.P. now owns 4,574,376 shares of the real estate investment trust’s stock worth $141,623,000 after purchasing an additional 86,758 shares during the period. BlackRock Inc. boosted its stake in Capital Trust by 1,288,745.4% during the 1st quarter. BlackRock Inc. now owns 4,175,859 shares of the real estate investment trust’s stock worth $129,284,000 after purchasing an additional 4,175,535 shares during the period. Bank of America Corp DE boosted its stake in Capital Trust by 5.8% during the 1st quarter. Bank of America Corp DE now owns 1,141,887 shares of the real estate investment trust’s stock worth $35,353,000 after purchasing an additional 62,928 shares during the period. Finally, Clough Capital Partners L P boosted its stake in Capital Trust by 19.8% during the 1st quarter. Clough Capital Partners L P now owns 1,032,400 shares of the real estate investment trust’s stock worth $31,963,000 after purchasing an additional 170,903 shares during the period. Hedge funds and other institutional investors own 61.86% of the company’s stock.
About Capital 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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