Citigroup Maintains Neutral Rating for Blackstone Mortgage Trust: Here's What You Need To Know

Citigroup has decided to maintain its Neutral rating of Blackstone Mortgage Trust BXMT and lower its price target from $24.00 to $17.00.

Shares of Blackstone Mortgage Trust are trading up 0.08% over the last 24 hours, at $17.75 per share.

A move to $17.00 would account for a 4.2% decline from the current share price.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust Inc is a real estate finance company primarily involved in the origination and purchase of senior loans collateralized by commercial properties in North America, Europe, and Australia. The vast majority of the company's asset portfolio is comprised of floating rate loans secured by priority mortgages. These mortgages are mainly derived from office, hotel, and manufactured housing properties. A significant percentage of the collateralized real estate properties are located in New York, California, and the United Kingdom. Blackstone Mortgage Trust is managed by a subsidiary of The Blackstone Group and benefits from the market data provided by its parent company. Nearly all of Blackstone Mortgage Trust's revenue is generated in the form of interest income.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.