BTIG raised the firm’s price target on Blackstone Mortgage to $24 from $22 and keeps a Buy rating on the shares as part of a broader research note on commercial mortgage REITs. 2024 should see significantly improved cap rate clarity and book value multiple stability, as CRE transaction volumes have likely already bottomed, the analyst tells investors in a research note.
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- Blackstone Mortgage price target lowered to $22 from $25 at BTIG
- Blackstone Mortgage reports Q3 EPS 78c, consensus 69c
