Wells Fargo Starts Blackstone Mortgage Trust (BXMT) at Market Perform

Wells Fargo initiated coverage on Blackstone Mortgage Trust (NYSE: BXMT) with a Market Perform rating and a price target of $27.00.

"Our Market Perform rating is based on the company's full valuation, which we believe accurately reflects the growing market opportunity within commercial real estate origination, the ability to leverage the expertise of Blackstone, the largest private equity real estate manager in the world, and the attractive returns inherent in the current pipeline and pre-identified portfolio," said analyst Joel Houck.

For an analyst ratings summary and ratings history on Blackstone Mortgage Trust click here. For more ratings news on Blackstone Mortgage Trust click here.

Shares of Blackstone Mortgage Trust closed at $26.37 yesterday.

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