Blackstone Inc. [NYSE: BX] gained 2.61% on the last trading session, reaching $76.13 price per share at the time. The company report on January 3, 2023 that UC Investments Creates Strategic Venture with Blackstone to Invest $4 Billion in BREIT Common Shares.
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The Office of the Chief Investment Officer of the Regents of the University of California (“UC Investments”) and Blackstone (NYSE: BX) today announced a long-term strategic venture in which UC Investments will invest $4 billion in Blackstone Real Estate Income Trust, Inc. (“BREIT”) Class I common shares, the largest existing share class. Blackstone will then contribute $1 billion of its current BREIT holdings as part of a strategic venture with UC Investments.
Stephen A. Schwarzman, Chairman, CEO and Co-Founder of Blackstone, said, “Blackstone is committed to bringing the highest quality alternative investment products to individual investors to improve their returns. UC Investments’ $4 billion investment is validation of this strategy, and we are proud to add the UC system to the more than 200,000 investors already benefitting from BREIT. UC Investments’ commitment builds upon its 15-year partnership with Blackstone and gives BREIT increased balance sheet flexibility and capital during an opportune deployment period for all our investors.”.
Blackstone Inc. represents 742.35 million in outstanding shares, while the company has a total market value of $93.05 billion with the latest information. BX stock price has been found in the range of $74.04 to $77.97.
If compared to the average trading volume of 5.48M shares, BX reached a trading volume of 9363960 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Blackstone Inc. [BX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $97.57 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 2.40. 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.
Barclays have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 02, 2022. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $85.50 to $67.50. The new note on the price target was released on November 22, 2022, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another raise to $85.50, while Credit Suisse analysts kept a Neutral rating on BX stock.
The Average True Range (ATR) for Blackstone Inc. is set at 3.25, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 7.40. The Price to Book ratio for the last quarter was 7.45, with the Price to Cash per share for the same quarter was set at 2.92.
Trading performance analysis for BX stock
Blackstone Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.63. With this latest performance, BX shares dropped by -10.48% in over the last four-week period, additionally sinking by -18.71% over the last 6 months – not to mention a drop of -40.92% 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 43.82, with the RSI for the last a single of trading hit 47.29, and the three-weeks RSI is set at 43.23 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 85.83, while it was recorded at 74.18 for the last single week of trading, and 98.33 for the last 200 days.
Blackstone Inc. [BX]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Blackstone Inc. [BX] shares currently have an operating margin of +109.08 and a Gross Margin at +98.91. Blackstone Inc.’s Net Margin is presently recorded at +46.52.
Return on Equity for this stock inclined to 72.88, with Return on Assets sitting at 17.36.
Blackstone Inc. [BX]: An earnings per share (EPS) analysis
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 Blackstone Inc. go to 9.43%.
An analysis of insider ownership at Blackstone Inc. [BX]
There are presently around $33,540 million, or 64.50% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 46,339,020, which is approximately 1.271% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 38,686,042 shares of the stock with an approximate value of $2.95 billion in BX stocks shares; and MORGAN STANLEY, currently with $1.65 billion in BX stock with ownership of nearly 1.653% of the company’s market capitalization.
Positions in Blackstone Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 824 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 28,020,907 shares. Additionally, 618 investors decreased positions by around 21,189,637 shares, while 227 investors held positions by with 391,347,353 shares. The mentioned changes placed institutional holdings at 440,557,897 shares, according to the latest SEC report filing. BX stock had 91 new institutional investments in for a total of 2,380,512 shares, while 126 institutional investors sold positions of 4,480,839 shares during the same period.