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Blackstone Mortgage Trust (BXMT) Dips More Than Broader Markets: What You Should Know
Blackstone Mortgage Trust (BXMT - Free Report) closed at $22.55 in the latest trading session, marking a -0.44% move from the prior day. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the real estate finance company had lost 21.3% over the past month, lagging the Finance sector's loss of 11.3% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from Blackstone Mortgage Trust as it approaches its next earnings release, which is expected to be October 26, 2022. On that day, Blackstone Mortgage Trust is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 6.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $148.31 million, up 26.31% from the year-ago period.
BXMT's full-year Zacks Consensus Estimates are calling for earnings of $2.65 per share and revenue of $586.17 million. These results would represent year-over-year changes of +1.15% and +13.94%, respectively.
Any recent changes to analyst estimates for Blackstone Mortgage Trust should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Blackstone Mortgage Trust is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Blackstone Mortgage Trust is holding a Forward P/E ratio of 8.55. For comparison, its industry has an average Forward P/E of 7.22, which means Blackstone Mortgage Trust is trading at a premium to the group.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.