Blackstone Mortgage (BXMT): Heavy Pre-Market Activity

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Blackstone Mortgage ( BXMT) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Blackstone Mortgage as such a stock due to the following factors:

  • BXMT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $9.7 million.
  • BXMT traded 79,738 shares today in the pre-market hours as of 7:55 AM, representing 24.4% of its average daily volume.

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More details on BXMT:

Blackstone Mortgage Trust, Inc., a real estate finance company, originates and purchases senior loans collateralized by properties in North America and Europe. It operates through two segments, Loan Origination and CT Legacy Portfolio. The stock currently has a dividend yield of 6.8%. BXMT has a PE ratio of 14. Currently there are 6 analysts that rate Blackstone Mortgage a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Blackstone Mortgage has been 838,500 shares per day over the past 30 days. Blackstone has a market cap of $2.5 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.33 and a short float of 1.6% with 4.50 days to cover. Shares are up 3.7% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Blackstone Mortgage as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year.

Highlights from the ratings report include:
  • BXMT's very impressive revenue growth greatly exceeded the industry average of 8.5%. Since the same quarter one year prior, revenues leaped by 100.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • BLACKSTONE MORTGAGE TR INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, BLACKSTONE MORTGAGE TR INC turned its bottom line around by earning $1.86 versus -$0.25 in the prior year. This year, the market expects an improvement in earnings ($2.16 versus $1.86).
  • The gross profit margin for BLACKSTONE MORTGAGE TR INC is currently very high, coming in at 78.72%. Regardless of BXMT's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, BXMT's net profit margin of 52.54% significantly outperformed against the industry.
  • In its most recent trading session, BXMT has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, BLACKSTONE MORTGAGE TR INC's return on equity is below that of both the industry average and the S&P 500.

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