BlackRock Fund Advisors has recently announced that it has increased stake in Blackstone Mortgage Trust Inc. (NYSE:BXMT) by 1.86%. After grabbing 12.24 million shares, the institutional investor is now in possession of 0.22 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 7.10% having worth around $281.33 million. Moreover, Geode Capital Management LLC increased its share by 0.1 million to have a control over 3.83 million shares. And SSgA Funds Management, Inc. raised its holdings to 12582.0 shares by acquiring 3.79 million shares or 2.20% of the stake.
Blackstone Mortgage Trust Inc. (BXMT) concluded trading on 09/13/23 at a closing price of $22.74, with 3.5 million shares of worth about $79.51 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 21.80% during that period and on Wednesday the price saw a loss of about -1.60%. Currently the company’s common shares owned by public are about 172.62M shares, out of which, 170.37M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the BXMT stock and their offered price forecasts bring an average price target of $22.93. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $24.00 and could fall to a lowest price of $21.00. The stock’s current price level is 1.43% above of average price target set by the analysts, while a rise to estimated low would result in loss of -8.29% for the stock. However, touching the estimated high of $24.00 would mean a gain of 5.25% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 55 times over the past 12 months. They bought 325,018 shares in 37 of the transactions. In 18 selling transactions, insiders dumped 22,114 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Blackstone Mortgage Trust Inc. Vanguard Total Stock Market ETF is currently holding 5.16 million shares of worth totaling $118.52 million. The company recently came selling 8336.0 shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 17739.0 shares, after which its hold over company’s outstanding shares expand to 2.46%, leaving 4.25 million shares with the mutual fund that have a worth of about $97.6 million. iShares Russell 2000 ETF, after buying 3.94 million shares, have now control over 2.29% of the stake in the company. It holds 20400.0 shares of worth $90.61 million.
Blackstone Mortgage Trust Inc. (NYSE: BXMT) started trading at $23.15, above $0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 23.29, or with a loss of -1.60%. Stock saw a price change of -0.52% in past 5 days and over the past one month there was a price change of 5.62%. Year-to-date (YTD), BXMT shares are showing a performance of 7.42% which decreased to -23.38% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.60 but also hit the highest price of $29.30 during that period. The average intraday trading volume for Blackstone Mortgage Trust Inc. shares is 2.30 million. The stock is currently trading 4.12% above its 20-day simple moving average (SMA20), while that difference is up 3.01% for SMA50 and it goes to 8.99% higher than SMA200.
BlackRock Fund Advisors acquired 12.24 million shares of Blackstone Mortgage Trust Inc. having value of about $281.33 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.22 million shares in the company valued at close to $5094192.06, or have control over 1.86% stake in the company. Blackstone Mortgage Trust Inc. (NYSE: BXMT) currently have 172.62M outstanding shares and institutions hold larger chunk of about 56.00% of that. Holding of mutual funds in the company is about 24.87% while other institutional holders and individual stake holders have control over 25.88% and 1.90% of the stake respectively.
The stock has a current market capitalization of $3.94B and its 3Y-monthly beta is at 1.39. PE ratio of stock for trailing 12 months is 15.23, while it has posted earnings per share of $1.49 in the same period. Its PEG reads 7.02 while making debt-to-equity ratio of 4.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BXMT, volatility over the week remained 2.21% while standing at 2.17% over the month.
Analysts are in expectations that Blackstone Mortgage Trust Inc. (BXMT) stock would likely to be making an EPS of $0.7 in the current quarter, while forecast for next quarter EPS is $0.65 and it is $2.54 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.62 which is $0.77 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -47.30% while it is estimated to decrease by -13.51% in next year. EPS is likely to grow at an annualized rate of 2.17% for next 5-years, compared to annual growth of -8.50% made by the stock over the past 5-years.
Analysts at 9 brokerage firms have issued recommendations for the Blackstone Mortgage Trust Inc. (BXMT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 9 Wall Street analysts, 3 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on July 17, 2023 offering a Buy rating for the stock and assigned a target price range of between $19 and $24 to it.