BXMT Stock Recent News

Blackstone Mortgage Trust provides a dip buying opportunity for passive income investors after recent stock price weakness. The trust's origination business halted in 2023, but dividend coverage remained steady in 2Q-23. The trust has a large exposure to the office real estate sector, which could pose risks to dividend coverage and earnings growth.

Blackstone Mortgage Trust (BXMT) came out with quarterly earnings of $0.79 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.67 per share a year ago.

Blackstone Mortgage Trust (NYSE: BXMT) published strong financial results for the second quarter. In a statement, the company's interest and related income rose from over $283 million in 2022 to over $521.8 million.

With one or two more rate hikes expected and a resilient labor market, BXMT's earnings should continue to rise. The market's concerns around the office portfolio are warranted but have gone too far past the fair value of the company. We see a 20-25% upside to the share price, along with a stable and well-covered 11%+ dividend yield.

I know I said in the original article that there would be 20 REITs altogether in the series. That's why I covered 11 in the first one and nine in the second. But the five I'm detailing in this one don't really fit into the same category.

Blackstone Mortgage Trust continues to attract investors with its high dividend payout of 11.8%, despite a 25% loss in the last year due to rising interest rates. BXMT's largest exposure is to the office real estate sub-sector, which is considered high-risk; the company has a potential reserve gap. Despite the high dividend yield, the article suggests investors should avoid BXMT due to the inherent risks in its portfolio.

NEW YORK--(BUSINESS WIRE)--Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the “Company”) today announced that it will publish its second quarter 2023 earnings presentation on its website at www.bxmt.com and file its Form 10-Q pre-market on Wednesday, July 26, 2023. 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=1622266&tp_key=5ac7398147 For tho.

Blackstone Mortgage Trust is a bargain for value investors due to its strong earnings growth and well-covered 12.5% yield. Despite challenges in the office property space, BXMT is expected to manage through these issues with lender protections and a diversified asset base. The stock is currently trading at a substantial discount to book value, offering potential for strong returns.

Commercial office properties face unprecedented challenges due to the rise in work-from-home trends and urban decay, impacting REITs like Blackstone Mortgage Trust. BXMT has lost around a third of its value since its 2021 peak and faces growing loan losses on some of its office loans, with the market bracing for a ~10-15% non-performance rate in its portfolio. The "doom loop" issue may eventually turn many downtown areas into ghost towns, posing a risk for BXMT's long-term value, but it is not strong enough to consider it a short opportunity.

Blackstone Mortgage Trust's 1Q 2023 financial results were strong, as the company's distributable earnings and dividend coverage improved significantly. With a dividend yield of more than 12%, BXMT is very attractive. However, the company's increased expected credit losses have made some investors worried about BXMT's ability to maintain its current level of profitability and relatively high dividends.