Added to YB: 2024-01-18
Pitch date: 2024-01-17
BXMT [bearish]
Blackstone Mortgage Trust, Inc.
-18.7%
current return
Author Info
No bio for this author
Company Info
Blackstone Mortgage Trust, Inc., a real estate finance company, originates, acquires, and manages loans and other debt or credit-oriented investments collateralized by or relating to commercial real estate.
Market Cap
$3.3B
Pitch Price
$16.24
Price Target
N/A
Dividend
9.62%
EV/EBITDA
N/A
P/E
30.49
EV/Sales
N/A
Sector
Mortgage Real Estate Investment Trusts (REITs)
Category
turnaround
[SHORT] Diving Into Blackstone Mortgage's Portfolio Reveals 2024 Is Darker Than It Appears In The Muddy Waters' Report
$BXMT: Muddy Waters report flags rising default risks due to rate caps expiring amidst higher SOFR rates. Despite mgmt pushback, CRE headwinds likely to pressure loans. Recent extensions delay but may magnify losses. Impairments would hit covenant, earnings & dividend. Caution urged.
Read full article (28 min)