Blackstone Mortgage Trust
BXMT

$20.23

3.16%

Market Cap: $3.51B

About: Blackstone Mortgage Trust Inc is a real estate finance company primarily involved in the origination and purchase of senior loans collateralized by commercial properties in North America, Europe, and Australia. The vast majority of the company's asset portfolio is comprised of floating rate loans secured by priority mortgages. These mortgages are mainly derived from office, hotel, and manufactured housing properties. A significant percentage of the collateralized real estate properties are located in New York, California, and the United Kingdom. Blackstone Mortgage Trust is managed by a subsidiary of The Blackstone Group and benefits from the market data provided by its parent company. Nearly all of Blackstone Mortgage Trust's revenue is generated in the form of interest income.

Employees: 29

Financials Real Estate Investment Trusts

0

Funds holding %

of 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

10% more repeat investments, than reductions

Existing positions increased: 116 | Existing positions reduced: 105

2% more first-time investments, than exits

New positions opened: 51 | Existing positions closed: 50

0% more funds holding

Funds holding: 311 [Q1] → 312 (+1) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 3 [Q1] → 3 (+0) [Q2]

1.46% less ownership

Funds ownership: 64.33% [Q1] → 62.87% (-1.46%) [Q2]

14% less capital invested

Capital invested by funds: $2.24B [Q1] → $1.91B (-$323M) [Q2]

45% less call options, than puts

Call options by funds: $50.7M | Put options by funds: $92.2M

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Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$19

6%

downside

Avg. target

$21

4%

upside

High target

$23

14%

upside

2 analyst ratings

2 positive

100%

0 neutral

0%

0 negative

0%

Wells Fargo Donald Fandetti 100% 1-year accuracy 19 / 19 met price target	6%downside $19	Overweight Maintained	25 Jul 2024
BTIG Thomas Catherwood 25% 1-year accuracy 2 / 8 met price target	14%upside $23	Buy Assumed	19 Jul 2024

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Financial journalist opinion

Based on 7 articles about BXMT published over the past 30 days

Assessing Blackstone Mortgage's Performance For Q2 2024

BXMT recorded a minor decrease in BV as expected, with a net increase in CECL reserves and a slight underperformance in BV per share. Adjusted core earnings/EAD saw a minor outperformance due to a smaller decrease in investment portfolio size than projected. Non-accrual loans increased, leading to a dividend cut for Q3 2024, but BXMT remains slightly undervalued with potential for growth in the future.

Assessing Blackstone Mortgage's Performance For Q2 2024

Blackstone Mortgage Trust Could Be In For More Trouble

Blackstone Mortgage Trust continues to struggle as office impairments mount against the REIT's portfolio. BXMT's management acknowledges volatility ahead, with ongoing impairments impacting distributable earnings and no immediate improvement in sight for office real estate. Rising vacancy rates in multifamily could create new issues for the Company as the second-largest piece of the collateral pool.

Blackstone Mortgage Trust Could Be In For More Trouble

Blackstone Mortgage Trust Faces Serious Headwinds

Blackstone Mortgage Trust Inc.'s (BXMT, Financial) prospects are in the limelight amid a changing interest rate environment and a recent dividend cut. The mortgage real estate investment trust has shed approximately 10% of its market value in the past six months, illustrating investors' dissatisfaction with the systematic environment and the company's execution.

Blackstone Mortgage Trust Faces Serious Headwinds

Zacks Investment Research

Is the Options Market Predicting a Spike in Blackstone Mortgage (BXMT) Stock?

Investors need to pay close attention to Blackstone Mortgage (BXMT) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Blackstone Mortgage (BXMT) Stock?

A Summer To Remember

U.S. equity markets climbed to record-highs while benchmark interest rates rebounded from eight-month lows on a relatively quiet end-of-summer week as investors parsed a 'Goldilocks' slate of economic data. PCE data showed modest inflationary pressures in July - keeping the Fed on course for multiple rate cuts by year-end - while consumer spending and consumer confidence data topped estimates. Posting gains for a fourth week following a three-week skid in late July, the S&P 500 gained another 0.3% this week. The Dow Jones finished the week at all-time record-highs.

A Summer To Remember

3 'Beaten Down' Mortgage REITs: Darkest Before Dawn?

Recent developments in interest rates and market sentiment on rate cuts present an opportunity for highly discounted mortgage REITs with office exposure. Despite challenges, the risk-return profile of these mREITs has improved, making them potentially lucrative for patient, long-term investors. Granite Point Mortgage Trust, Claros Mortgage Trust, and Blackstone Mortgage Trust are rated as Speculative Buys due to their significant discounts to book value and growth prospects.

3 'Beaten Down' Mortgage REITs: Darkest Before Dawn?

2 Amazing Dividends Averaging 9% Yield

Hercules Capital, Inc. and Ladder Capital Corp are top picks in their sectors, offering high and well-covered dividends supported by robust cash flows and low leverage. Hercules offers a 10.5% yield with a low-cost structure and expertise in tech and life sciences. Ladder provides a 7.8% yield with a conservative loan portfolio, significant insider ownership, and strong financial performance.

2 Amazing Dividends Averaging 9% Yield

Chasing Goldilocks

U.S. equity markets rallied while benchmark interest rates remained near the lows of the year after a critical slate of inflation data showed further encouraging signs of cooling price pressures. The Consumer Price Index posted a downside surprise for a fourth straight month, underscored by a "2-Handle" on Headline CPI, which follows a period of historically high inflation from 2021 to 2023. Sparking a renewed "Goldilocks" narrative, Retail Sales data was notably stronger than expected in July - posting its strongest monthly increase in 18 months - while Jobless Claims also moderated.

Chasing Goldilocks

10% Or Higher Dividend Yields

BDCs, mortgage REITs, preferred shares, and one baby bond. Most are yielding over 10%. I hope you're ready for the weekend. We're going to do quick coverage on each share. Some of these preferred share and baby bond combinations appear to be slightly mispriced.

10% Or Higher Dividend Yields

The Return Of Volatility

In a highly volatile week across global financial markets, U.S. equity markets ultimately finished the week little-changed, while benchmark interest rates rebounded from the lowest levels of the year. Following a historic surge in volatility, stabilization in Asian and European markets, decent jobless claims data, and clarity on the domestic Presidential matchup helped to ease market jitters. Narrowly avoiding a fourth-straight week of losses, the S&P 500 finished flat - staging a late-week rebound after sharp declines early in the week. The Nasdaq remained in "correction territory."

The Return Of Volatility

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