BlackRock Fund Advisors recently announced the acquisition of new stake in Blackstone Mortgage Trust Inc (NYSE:BXMT). The institutional investor has increased its shareholding in the Real Estate company by 114.17% to 26.21 million shares with purchase of 13.97 million shares. This fresh investment now brings its stake to 15.21% valued currently at $581.31 million. In addition, The Vanguard Group, Inc. raised its holdings by 2.47 million to 18.35 million shares. And SSgA Funds Management, Inc. has lifted its position by 72.02% or 2.73 million shares – to 6.51 million shares.
Currently, there are 171.70M common shares owned by the public and among those 162.93M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 192,154 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 23,468 shares.
The top 3 mutual fund holders in Blackstone Mortgage Trust Inc are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 11.53 million shares of the company’s stock, all valued at over $255.74 million. The company bought an additional 5388.0 shares recently to bring their total holdings to about 6.69% of the shares outstanding. Vanguard Total Stock Market ETF bought 11069.0 shares to see its total holdings expand to 5.19 million shares valued at over $115.03 million and representing 3.01% of the shares outstanding. iShares Russell 2000 ETF bought 2079.0 shares to bring its total holdings to over 4.23 million shares at a value of $93.78 million. iShares Russell 2000 ETF now owns shares totaling to 2.45% of the shares outstanding.
However, the script later moved the day high at 22.79, up 1.07%. The company’s stock has a 5-day price change of 4.62% and -2.03% over the past three months. BXMT shares are trading 6.90% year to date (YTD), with the 12-month market performance up to 0.62% higher. It has a 12-month low price of $16.60 and touched a high of $24.80 over the same period. BXMT has an average intraday trading volume of 2.84 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.34%, 5.33%, and 10.80% respectively.
Institutional ownership of Blackstone Mortgage Trust Inc (NYSE: BXMT) shares accounts for 62.06% of the company’s 171.70M shares outstanding. Mutual fund holders own 23.61%, while other institutional holders and individual stakeholders account for 38.56% and 2.01% respectively.
It has a market capitalization of $3.90B and a beta (3y monthly) value of 1.47. The stock’s trailing 12-month PE ratio is 19.74, while the earnings-per-share (ttm) stands at $1.15. The company has a PEG of 9.10 and the debt-to-equity ratio at 4.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.36% over the week and 3.22% over the month.
Analysts forecast that Blackstone Mortgage Trust Inc (BXMT) will achieve an EPS of $0.62 for the current quarter, $0.57 for the next quarter and $2.32 for 2024. The lowest estimate earnings-per-share for the quarter is $0.45 while analysts give the company a high EPS estimate of $0.7. Comparatively, EPS for the current quarter was $0.87 a year ago. Earnings per share for the fiscal year are expected to increase by 3.05%, and -21.46% over the next financial year. EPS should grow at an annualized rate of 2.17% over the next five years, compared to -8.48% over the past 5-year period.
Looking at the support for the BXMT, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on December 06, 2023, with the firm’s price target at $23.50.
