Blackstone Mortgage price target lowered to $22 from $25 at BTIG

BTIG lowered the firm’s price target on Blackstone Mortgage to $22 from $25 but keeps a Buy rating on the shares after its Q3 results. The firm notes that it anticipates some further book value erosion, but also believes that the REIT’s book value should hold up strong relative to CMREITs, particularly those with smaller platforms, the analyst tells investors in a research note.