The Blackstone Group Inc. [NYSE: BX] traded at a low on 12/18/20, posting a -1.13 loss after which it closed the day’ session at $64.60. The company report on December 19, 2020 that Blackstone Real Estate Income Trust Completes Acquisition of Simply Self Storage for Approximately $1.2 Billion.
Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced that it has completed its previously announced acquisition of Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2 billion. Simply Self Storage’s high-quality portfolio comprises eight million square feet across the U.S. With this acquisition, BREIT becomes the third largest non-listed owner of storage in the U.S.1.
Simpson Thacher & Bartlett LLP served as legal advisor to BREIT, and BofA Securities and Deutsche Bank Securities Inc. served as financial advisors to BREIT. RBC Capital Markets LLC, Newmark Group Inc., and Fried, Frank, Harris, Shriver & Jacobson LLP advised Brookfield.
The results of the trading session contributed to over 5179132 shares changing hands. Over the past one week, the price volatility of The Blackstone Group Inc. stands at 2.22% while the volatility over the past one month is 1.97%.
The market cap for BX stock reached $78.02 billion, with 700.19 million shares outstanding and 692.52 million shares in the current float. Compared to the average trading volume of 2.84M shares, BX reached a trading volume of 5179132 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about The Blackstone Group Inc. [BX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $63.53 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for The Blackstone Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 29, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on June 25, 2020, representing the official price target for The Blackstone Group Inc. stock.
The Average True Range (ATR) for The Blackstone Group Inc. is set at 1.31, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 17.09. The Price to Book ratio for the last quarter was 7.32, with the Price to Cash per share for the same quarter was set at 2.25.
How has BX stock performed recently?
The Blackstone Group Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.19. With this latest performance, BX shares gained by 11.75% in over the last four-week period, additionally plugging by 13.71% over the last 6 months – not to mention a rise of 15.87% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BX stock in for the last two-week period is set at 69.38, with the RSI for the last a single of trading hit 69.00, and the three-weeks RSI is set at 67.83 for The Blackstone Group Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 57.67, while it was recorded at 64.62 for the last single week of trading, and 53.45 for the last 200 days.
The Blackstone Group Inc. [BX]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and The Blackstone Group Inc. [BX] shares currently have an operating margin of +58.19 and a Gross Margin at +98.09. The Blackstone Group Inc.’s Net Margin is presently recorded at +34.09.
Return on Total Capital for BX is now 13.74, given the latest momentum, and Return on Invested Capital for the company is 11.70. Return on Equity for this stock inclined to 30.62, with Return on Assets sitting at 6.65. When it comes to the capital structure of this company, The Blackstone Group Inc. [BX] has a Total Debt to Total Equity ratio set at 169.14. Additionally, BX Total Debt to Total Capital is recorded at 62.84, with Total Debt to Total Assets ending up at 36.38. Long-Term Debt to Equity for the company is recorded at 165.73, with the Long-Term Debt to Total Capital now at 61.58.
Reflecting on the efficiency of the workforce at the company, The Blackstone Group Inc. [BX] managed to generate an average of $705,570 per employee. Receivables Turnover for the company is 1.94 with a Total Asset Turnover recorded at a value of 0.20.
Earnings analysis for The Blackstone Group Inc. [BX]
With the latest financial reports released by the company, The Blackstone Group Inc. posted 0.72/share EPS, while the average EPS was predicted by analysts to be reported at 0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Blackstone Group Inc. go to 13.12%.
Insider trade positions for The Blackstone Group Inc. [BX]
There are presently around $26,101 million, or 61.40% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 42,904,201, which is approximately 12.421% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 37,100,476 shares of the stock with an approximate value of $2.4 billion in BX stocks shares; and BLACKROCK INC., currently with $1.31 billion in BX stock with ownership of nearly -1.858% of the company’s market capitalization.
Positions in The Blackstone Group Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 488 institutional holders increased their position in The Blackstone Group Inc. [NYSE:BX] by around 31,360,528 shares. Additionally, 418 investors decreased positions by around 25,242,487 shares, while 187 investors held positions by with 347,430,001 shares. The mentioned changes placed institutional holdings at 404,033,016 shares, according to the latest SEC report filing. BX stock had 87 new institutional investments in for a total of 5,058,202 shares, while 83 institutional investors sold positions of 4,812,335 shares during the same period.