Arete Wealth Advisors LLC, an institutional investor, recently acquired 111,604 shares of Blackstone Mortgage Trust, Inc. (NYSE: BXMT) for approximately $1,992,000. This purchase demonstrates the growing interest in the company among major financial players. Blackstone Mortgage Trust, a real estate finance company, specializes in originating senior loans collateralized by commercial properties across North America, Europe, and Australia. The company focuses on acquiring commercial mortgage loans and related investments. As a real estate investment trust, Blackstone Mortgage Trust operates for federal income tax purposes.
In recent months, analysts have provided insights into the prospects of Blackstone Mortgage Trust. JPMorgan Chase & Co., for example, raised their target price on the company’s stock from $18.50 to $21.00 in a research report. Citigroup also increased their target price from $17.00 to $22.00 while giving the company a “neutral” rating. BTIG Research raised their target price from $19.00 to $24.00 and issued a “buy” rating. StockNews.com assigned a “hold” rating to the stock. Currently, four research analysts have given it a hold rating while one analyst has rated it as a buy stock.
According to data from Bloomberg.com, the average rating for Blackstone Mortgage Trust is currently “Hold”. Analysts predict that the average target price for its stock stands at $22.40. These positive ratings indicate the company’s potential for growth within the market.
It is important to remember that financial markets are constantly fluctuating, and past performance does not guarantee future results. Investors should conduct thorough research and analysis before making any investment decisions. The information provided in this article is based on data available as of September 14, 2023, but market conditions can change rapidly.
In terms of shareholder base and recent stock performance, Blackstone Mortgage Trust has seen significant changes. Millennium Management LLC now owns 1,143,826 shares of the company’s stock after increasing their stake. First Republic Investment Management Inc. has also raised its stake by 100.4% to own 1,649,144 shares. Norges Bank and Marshall Wace LLP have also joined the list of shareholders. Currently, 52.89% of Blackstone Mortgage Trust’s stock is owned by hedge funds and other institutional investors.
The stock performance of Blackstone Mortgage Trust has ranged from a low of $16.60 to a high of $29.17 over the past year. With a market cap of $3.92 billion, the company specializes in originating senior loans collateralized by commercial properties.
In recent news, CEO Katharine A. Keenan sold 2,275 shares of the company’s stock on September 11th at an average price of $23.20 per share. This transaction amounted to a total value of $52,780.00. Following this sale, Keenan now directly owns 150,284 shares valued at approximately $3,486,588.80. These transactions were disclosed through legal filings with the Securities and Exchange Commission (SEC), and further details can be found on their website.
In summary, Blackstone Mortgage Trust is experiencing changes in its shareholder base, with various hedge funds and institutional investors modifying their holdings. The company’s stock performance has shown volatility over the past year but currently stands at an opening price of $22.74. As a leading real estate finance company, Blackstone Mortgage Trust has demonstrated its ability to originate and acquire commercial mortgage loans across various markets. CEO Katharine A. Keenan’s recent stock sales also add an element of interest to the company’s news. Overall, these developments provide valuable insights into the dynamics at play within Blackstone Mortgage Trust, Inc.
Note: The information provided in this article is based on publicly available sources as of September 14, 2023.