FBR Capital Starts Blackstone Mortgage Trust (BXMT) at Outperform; More of a Bank than a mortgage REIT
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Price: $18.13 -0.77%
Rating Summary:
3 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 50
Rating Summary:
3 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 50
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FBR Capital initiates coverage on Blackstone Mortgage Trust (NYSE: BXMT) with a Outperform. PT $29.00.
The firm expects the company to rapidly grow its portfolio of new first-mortgage, floating-rate commercial real estate (CRE) loans during the next several quarters, reaching $2.7 billion in 1Q14 and $3.2 billion by the end of 2014.
They say while the stock may get lumped into the "mortgage REIT" category, it is important for investors to recognize that this relatively straightforward CRE lending platform more closely resembles a bank in a REIT structure.
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 $24.89 yesterday.
The firm expects the company to rapidly grow its portfolio of new first-mortgage, floating-rate commercial real estate (CRE) loans during the next several quarters, reaching $2.7 billion in 1Q14 and $3.2 billion by the end of 2014.
They say while the stock may get lumped into the "mortgage REIT" category, it is important for investors to recognize that this relatively straightforward CRE lending platform more closely resembles a bank in a REIT structure.
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 $24.89 yesterday.
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