Take off with Blackstone Mortgage Trust Inc. (BXMT): Get ready for trading

Blackstone Mortgage Trust Inc. (NYSE: BXMT) stock jumped 1.14% on Thursday to $23.00 against a previous-day closing price of $22.74. With 3.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.32 million shares. During the session, the REIT – Mortgage company that operates in wider Real Estate sector, reached to the highest price of $23.29 whereas the lowest price it dropped to was $22.87. The 52-week range on BXMT shows that it touched its highest point at $29.17 and its lowest point at $16.60 during that stretch. It currently has a 1-year price target of $23.07. With its current market cap of 3.98 billion, BXMT has annualized dividend of $2.48 while the current yield stands at 10.78%. Beta for the stock currently stands at 1.40.

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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 -0.86%, but this was up by 9.16% over a month. Three-month performance surged to 15.00% while six-month performance rose 27.78%. The stock lost -20.08% in the past year, while it has gained 8.64% so far this year. A look at the trailing 12-month EPS for BXMT yields 1.49 with Next year EPS estimates of 2.54. For the next quarter, that number is 0.70. This implies an EPS growth rate of -47.30% for this year and -13.51% 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 -8.50%.

Float and Shares Shorts:

At present, 172.62 million BXMT shares are outstanding with a float of 170.37 million shares on hand for trading. On Aug 30, 2023, short shares totaled 20.63 million, which was 11.97% higher than short shares on Jul 30, 2023. In addition to Mr. Michael B. Nash as the firm’s Exec. Chairman, Ms. Katharine A. Keenan serves as its CEO, Pres & Director.

Institutional Ownership:

Through their ownership of 54.75% of BXMT’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BXMT since 0 analysts follow the stock currently. 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 $24.00 and a low target of $21.00, the average target price over the next 12 months is $22.93. Based on these targets, BXMT could surge 4.35% to reach the target high and fall by -8.7% to reach the target low. Reaching the average price target will result in a decline of -0.3% 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.

Summary of Insider Activity:

Insiders traded BXMT stock several times over the past three months with 11 Buys and 0 Sells. In these transactions, 45,092 shares were bought while 0 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 18 over the past year. The total number of shares bought during that period was 325,018 while 22,114 shares were sold.

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