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NEW YORK--(BUSINESS WIRE)--Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the “Company”) today announced that it will publish its third quarter 2024 earnings presentation on its website at www.bxmt.com and file its Form 10-Q pre-market on Wednesday, October 23, 2024. The Company will also host a conference call the same day at 9:00 a.m. ET to review results. To register for the webcast, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1690501&tp_key=c125cd17c6 For t.
NEW DELHI & DALLAS--(BUSINESS WIRE)--Oravel Stays, the parent company of the global travel technology company OYO, today announced that it has agreed to acquire G6 Hospitality, the leading economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million, in an all-cash transaction. OYO has steadily expanded its footprint in the United States since its launch in the region in 2019 and currently operates over 320 hotels across 3.
Investors need to pay close attention to Blackstone Mortgage (BXMT) stock based on the movements in the options market lately.
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.
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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 Inc.'s stock dropped 9% on Wednesday after the real estate lender backed by Blackstone Inc. cut its dividend and swung to a loss as it manages through lower values in its office real estate portfolio.
Blackstone Mortgage Trust Inc., which provides financing for commercial real estate, is cutting its dividend by 24% as defaults increase and borrowers struggle to make payments or refinance their loans. Nir Kaissar of Bloomberg Opinion is on "Bloomberg Open Interest" to talk more about Blackstone's troubles.
Blackstone Mortgage Trust (BXMT) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.79 per share a year ago.