Shares of Blackstone Mortgage Trust Inc. (NYSE:BXMT) traded at a new 52-week high today of $33.49. Approximately 357,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.
Over the past year, Blackstone Mortgage Trust Inc. has traded in a range of $20.70 to $33.49 and is now at $33.48, 62% above that low.
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.
Blackstone Mortgage Trust Inc. (NYSE:BXMT) defies analysts with a current price ($33.48) 50.6% above its average consensus price target of $16.55.
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