Tapping the equity market to raise funds, Blackstone Mortgage Trust, Inc. BXMT has announced an underwritten public offering of 10 million shares of its class A common stock. Total estimated gross proceeds are anticipated to be $315 million.As part of the offering, the company will give underwriters an option to purchase up to an additional 1,500,000 shares. If this option is exercised in full by underwriters, estimated gross proceeds will likely be $362 million.Subject to customary closing norms, the offering is anticipated to close on Sep 14, 2021.Net proceeds from the offering are expected to be utilized for working capital and other general corporate needs. This includes the funding of additional commercial mortgage loans origination and other target assets and investments.Given the robust rebound in commercial real property and commercial mortgage transaction volumes, the focus to fund such origination will enable the company to benefit from this recovery. In the June-end quarter, the company originated or acquired $2.2 billion of loans across 21 transactions. The momentum continued with Blackstone Mortgage originating $2.6 billion of loans as of Sep 9. It also had more than $4 billion of additional loans in closing as of the same date.Through these efforts, the company has expanded its investment portfolio. As of Aug 31, 2021, the principal balance of its total investment portfolio was $20.1 billion, up from $18.2 billion as of the prior-year end.The common stock offering boosts Blackstone Mortgage’s financial flexibility, providing it ample scope for deploying capital for long-term growth opportunities and rewarding higher returns to stockholders at the same time.However, the offering is expected to result in bottom-line dilution in the near term.The stock has gained 30.8% in the past year compared with 32.9% growth of the industry. Image Source: Zacks Investment Research Currently, Blackstone Mortgage carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Better-Ranked Stocks to ConsiderACRES Commercial Realty Corp.’s ACR earnings estimates for the current year were revised significantly upward to $1.20 in the last month. It carries a Zacks Rank #2 (Buy) at present.MFA Financial’s MFA Zacks Consensus Estimate for 2021 earnings was unchanged at 54 cents over the last 30 days. It carries a Zacks Rank #2 at present.Chimera Investment’s CIM earnings estimates for the ongoing year have been unchanged at $1.75 over the past month. It carries a Zacks Rank #2 at present. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MFA Financial, Inc. (MFA): Free Stock Analysis Report Blackstone Mortgage Trust, Inc. (BXMT): Free Stock Analysis Report Chimera Investment Corporation (CIM): Free Stock Analysis Report ACRES Commercial Realty Corp. (ACR): Free Stock Analysis Report To read this article on Zacks.com click here.