Blackstone Mortgage Trust Inc. (NYSE: BXMT) stock fell -2.04% on Friday to $27.87 against a previous-day closing price of $28.45. With 2.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.37 million shares. During the session, the REIT – Mortgage company that operates in wider Real Estate sector, reached to the highest price of $28.51 whereas the lowest price it dropped to was $27.86. The 52-week range on BXMT shows that it touched its highest point at $34.04 and its lowest point at $25.99 during that stretch. It currently has a 1-year price target of $32.00. With its current market cap of 4.73 billion, BXMT has annualized dividend of $2.48 while the current yield stands at 8.90%. Beta for the stock currently stands at 1.26.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BXMT was down-trending over the past week, with a drop of -2.69%, but this was down by -6.04% over a month. Three-month performance dropped to -2.62% while six-month performance fell -12.74%. The stock lost -10.41% in the past year, while it has lost -8.98% so far this year. A look at the trailing 12-month EPS for BXMT yields 2.40 with Next year EPS estimates of 2.77. For the next quarter, that number is 0.68. This implies an EPS growth rate of 184.90% for this year and 4.60% for next year. EPS is expected to grow by 2.17% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 1.80%.
Float and Shares Shorts:
At present, 170.67 million BXMT shares are outstanding with a float of 168.35 million shares on hand for trading. On Aug 30, 2022, short shares totaled 6.78 million, which was 3.98% higher than short shares on Jul 28, 2022. In addition to Mr. Michael B. Nash as the firm’s Exec. Chairman, Ms. Katharine A. Keenan serves as its CEO, Pres & Director.
Through their ownership of 56.96% of BXMT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 28.10% of BXMT, in contrast to 24.52% held by mutual funds. Shares owned by individuals account for 1.56%. As the largest shareholder in BXMT with 8.87% of the stake, The Vanguard Group, Inc. holds 15,106,842 shares worth 15,106,842. A second-largest stockholder of BXMT, BlackRock Fund Advisors, holds 12,655,290 shares, controlling over 7.43% of the firm’s shares. Morgan Stanley Smith Barney LLC is the third largest shareholder in BXMT, holding 3,606,143 shares or 2.12% stake. With a 2.79% stake in BXMT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,753,255 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.40% of BXMT stock, is the second-largest Mutual Fund holder. It holds 4,094,559 shares valued at 118.66 million. iShares Russell 2000 ETF holds 2.17% of the stake in BXMT, owning 3,698,324 shares worth 107.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. It generated $93.25M net income for the quarter, which came to $400.63M over the last twelve months.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BXMT since 9 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BXMT analysts setting a high price target of $33.00 and a low target of $30.00, the average target price over the next 12 months is $32.00. Based on these targets, BXMT could surge 18.41% to reach the target high and rise by 7.64% to reach the target low. Reaching the average price target will result in a growth of 14.82% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BXMT will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of $2.77 being high and $2.51 being low. For BXMT, this leads to a yearly average estimate of $2.65. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Blackstone Mortgage Trust Inc. surprised analysts by $0.04 when it reported $0.67 EPS against a consensus estimate of $0.63. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is $0.72 and the low estimate is $0.62. The average estimate for the next quarter is thus $0.68.
Summary of Insider Activity:
Insiders traded BXMT stock several times over the past three months with 6 Buys and 1 Sells. In these transactions, 8,485 shares were bought while 1,013 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 506,581 while 232,561 shares were sold.