As previously reported, BofA analyst downgraded Blackstone Mortgage to Neutral from Buy with a price target of $21, down from $22. Commercial real estate, or CRE, mortgage REITs outperformed other financial stocks in 2023, but the firm thinks the fundamental headwinds CRE faces are likely to persist throughout 2024 and it is cautious on CRE mREITs broadly this year, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BXMT:
- Jonathan Pollack Exits, Blackstone Mortgage Board Shrinks
- New Accounting & Financial Operations Risk for Blackstone Mortgage Trust – What’s the Latest?
- Blackstone Mortgage reports FY23 distributable EPS $3.05, consensus $2.96
- Blackstone Mortgage put volume heavy and directionally bearish
- Blackstone Mortgage Trust (BXMT) Q4 Earnings Cheat Sheet
