Credit Suisse Sticks to Its Hold Rating for Blackstone Mortgage (BXMT)

By Ryan Adsit

In a report issued on February 11, Douglas Harter from Credit Suisse maintained a Hold rating on Blackstone Mortgage (BXMTResearch Report), with a price target of $37.50. The company’s shares closed last Monday at $39.90, close to its 52-week high of $39.95.

According to TipRanks.com, Harter is a 4-star analyst with an average return of 6.4% and a 62.6% success rate. Harter covers the Financial sector, focusing on stocks such as Front Yard Residential, Granite Point Mortgage, and Cushman & Wakefield.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blackstone Mortgage with a $38.13 average price target, which is a -2.7% downside from current levels. In a report released yesterday, Compass Point also maintained a Hold rating on the stock with a $40.00 price target.

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Based on Blackstone Mortgage’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $78.93 million. In comparison, last year the company had a net profit of $73.64 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BXMT in relation to earlier this year.

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Blackstone Mortgage Trust, Inc. is a real estate finance company, which engages in originating senior loans collateralized by commercial real estate. Its investment objective is to preserve and protect shareholder capital while producing risk-adjusted returns primarily through dividends generated from current income from its loan portfolio.