BXMT Stock Recent News

BXMT, BMY and CWEN have been added to the Zacks Rank #5 (Strong Sell) List on February 26, 2023.

Blackstone Mortgage Trust beat earnings estimates for Q4, but showed weakness in its loan portfolio, with a decline in performing loans and a drop in book value. The REIT's CECL reserve increased significantly in Q4'23, indicating higher expected credit losses for its office loan portfolio. The distribution coverage ratio dropped relative to Q3'24, raising concerns for dividend investors.

Blackstone Mortgage Trust (BXMT) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.87 per share a year ago.

Blackstone Mortgage Trust offers a stable 12% yield and potential appreciation for dividend investors. The mortgage REIT owns a sizable portfolio of real estate-related senior loans, with a focus on offices and multi-family properties. Despite headwinds in the office market, Blackstone Mortgage's portfolio has proven to be resilient, with a high performing-loan ratio and strong dividend coverage.

It was a tumultuous 2023 for the housing market, marked by rising mortgage rates and stagnating sales and inventory. So, investors are closely eyeing real estate investment trusts (REITs) to sell in anticipation of market shifts.

NEW YORK--(BUSINESS WIRE)--Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the “Company”) today announced that it will publish its fourth quarter and full year 2023 earnings presentation on its website at www.bxmt.com and file its Form 10-K pre-market on Wednesday, February 14th, 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=1649876&tp_ke.

Blackstone Mortgage Trust had a solid Q3-2023 with strong earnings and distribution coverage. Muddy Waters raised concerns about BXMT's risk assessments and predicted potential distribution cuts and significant equity hit. We analyze the short case and tell you why it is too pessimistic.

A Muddy Waters critique hurt share prices of the REIT, but they have bounced back since then.

Blackstone Mortgage Trust has been targeted by short sellers due to concerns about the commercial real estate market and high interest rates. The mREIT has maintained stable quarterly dividend distributions since 2015 and currently trades at a 12% discount to book value. Despite its high exposure to office properties, BXMT has strong dividend coverage and will benefit from future interest rate cuts.

Carson Block, Muddy Waters Research founder, joins 'The Exchange' to discuss his latest short position, the outlook for 2024, and more.