Blackstone Mortgage Trust
BXMT

$18.28

0.22%

Market Cap: $3.17B

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

0

Analysts bullish %

of 3 analysts

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

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

Low target

$18

2%

downside

Avg. target

$20

9%

upside

High target

$23

26%

upside

3 analyst ratings

2 positive

67%

1 neutral

33%

0 negative

0%

Wells Fargo Donald Fandetti 79% 1-year accuracy 15 / 19 met price target	4%upside $19	Overweight Maintained	25 Jul 2024
BTIG Thomas Catherwood 13% 1-year accuracy 1 / 8 met price target	26%upside $23	Buy Assumed	19 Jul 2024
Keefe, Bruyette & Woods Jade Rahmani 70% 1-year accuracy 19 / 27 met price target	2%downside $18	Market Perform Maintained	18 Jun 2024

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Financial journalist opinion

Based on 6 articles about BXMT published over the past 30 days

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

24/7 Wall Street

Grab These 4 High-Yield Dividend Stock August Bargains Now

24/7 Wall St. Insights Interest rates have plunged, and dividend stocks got hit during the sell-off.

Grab These 4 High-Yield Dividend Stock August Bargains Now

Blackstone Mortgage Trust: Why I Am Buying The Dividend Cut (Rating Upgrade)

Blackstone Mortgage Trust slashed its dividend by 24% due to persistent office loan performance problems, leading to an increased dividend pay-out ratio. The trust's credit loss reserve account increased, causing a decline in book value, but a $0.47 per share dividend may be more sustainable. Blackstone Mortgage Trust announced a $150 million share repurchase to cushion the impact of the dividend cut, and the stock is selling at a 24% discount to book value.

Blackstone Mortgage Trust: Why I Am Buying The Dividend Cut (Rating Upgrade)

Bashing Big Yielders

Dividends need to be sustained to create value. We're highlighting a company that regularly falls short. I made some mistakes many years ago and I want to address them so we can all learn from them.

Bashing Big Yielders

Soft Landing Secured

U.S. equity markets posted mixed performance while interest rates dipped to four-month lows as a lukewarm start to corporate earnings season and mixed economic data reinforced Fed rate cut expectations. Another twist in a wild month of politics, President Biden announced that he would not seek reelection, instead endorsing VP Harris, setting the stage for a more competitive November election. The S&P 500 slipped 0.8% on the week as the powerful "value rotation" trade extended into a third-week. The Small-Cap 600 rallied 3.6% while the mega-cap Nasdaq 100 dipped 2.6%.

Soft Landing Secured

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