Blackstone Mortgage Trust (BXMT) Cut to “Neutral” at JPMorgan Chase & Co.

Blackstone Mortgage Trust (NYSE:BXMT) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.

A number of other equities analysts have also issued reports on BXMT. FBR & Co upped their target price on Blackstone Mortgage Trust from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research raised Blackstone Mortgage Trust from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, October 30th. B. Riley reaffirmed a “buy” rating and issued a $33.00 target price on shares of Blackstone Mortgage Trust in a research report on Friday, December 1st. Wells Fargo & Co initiated coverage on Blackstone Mortgage Trust in a research report on Wednesday, December 6th. They issued an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods lowered Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Blackstone Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $33.60.

Blackstone Mortgage Trust (NYSE BXMT) opened at $30.08 on Tuesday. Blackstone Mortgage Trust has a 52-week low of $29.76 and a 52-week high of $33.08. The stock has a market capitalization of $3,242.79, a P/E ratio of 13.37 and a beta of 0.59.

In related news, Treasurer Douglas N. Armer sold 3,658 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $31.86, for a total transaction of $116,543.88. Following the sale, the treasurer now directly owns 49,561 shares of the company’s stock, valued at approximately $1,579,013.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony F. Marone, Jr. sold 1,070 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $31.95, for a total value of $34,186.50. Following the sale, the chief financial officer now directly owns 15,504 shares in the company, valued at $495,352.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,646 shares of company stock worth $180,350. Corporate insiders own 0.91% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Dean Investment Associates LLC raised its position in shares of Blackstone Mortgage Trust by 36.2% during the 4th quarter. Dean Investment Associates LLC now owns 226,464 shares of the real estate investment trust’s stock valued at $7,288,000 after acquiring an additional 60,219 shares in the last quarter. Claraphi Advisory Network LLC acquired a new stake in shares of Blackstone Mortgage Trust during the 4th quarter valued at approximately $772,000. US Bancorp DE raised its position in shares of Blackstone Mortgage Trust by 8.3% during the 4th quarter. US Bancorp DE now owns 22,857 shares of the real estate investment trust’s stock valued at $735,000 after acquiring an additional 1,755 shares in the last quarter. Boston Partners raised its position in shares of Blackstone Mortgage Trust by 5.8% during the 4th quarter. Boston Partners now owns 833,453 shares of the real estate investment trust’s stock valued at $26,821,000 after acquiring an additional 45,514 shares in the last quarter. Finally, Dean Capital Investments Management LLC bought a new position in Blackstone Mortgage Trust during the 4th quarter worth $759,000. 54.26% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

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