Blackstone Mortgage Trust, Inc. Class A (BXMT)

In the past six months, several events have impacted Blackstone Mortgage Trust, Inc.'s stock price. BXMT reported third-quarter EPS of $0.24, missing analyst estimates, and a net income of $63.4 million, along with a decrease in CECL reserves, but the dividend per share outpaced distributable earnings. The company declared a $0.47 per share dividend in December 2025. S&P Global Ratings revised its outlook on Blackstone Mortgage Trust Inc. to stable from negative, while affirming its 'B+' issuer credit and senior secured debt ratings. S&P Global Ratings assigned a 'B+' issue rating to BXMT's proposed $500 million term loan B due 2032, expected to refinance existing debt. Jean Hsu was appointed to the Board of Directors of Blackstone Mortgage Trust. The stock price has experienced daily fluctuations, reflecting broader weakness in the mortgage REIT sector and positive analyst discussions. The Q1 2025 earnings reported an EPS of $0.42, beating the forecast, but the stock dipped 2.43% despite the positive results.

Demand seasonality for Blackstone Mortgage Trust, Inc.'s commercial real estate loans is influenced by broader market conditions rather than strict seasonal patterns. While the fourth quarter has historically seen the highest volumes, this trend can be impacted by factors such as rising interest rates and economic uncertainty. Demand for transitional, flexible capital in commercial real estate is expected to remain robust, and new loan growth and originations are seen as an upside factor. The AI boom is driving increased demand for data centers, representing a new area of opportunity for real estate financing. Commercial and multifamily mortgage loan originations increased significantly in the second quarter of 2025, with industrial and healthcare properties showing notable increases.

Blackstone Mortgage Trust, Inc. (BXMT) is a real estate finance company specializing in originating and acquiring senior loans collateralized by commercial properties across North America, Europe, and Australia. It operates within the Real Estate sector, specifically the REIT - Mortgage industry, focusing on senior, floating-rate mortgage loans secured by first-priority mortgages on commercial real estate assets. The company's portfolio consists largely of loans on major market assets, with a significant portion derived from office, hotel, and manufactured housing properties. BXMT operates as a real estate investment trust (REIT), distributing at least 90% of its taxable income to shareholders and is externally managed by BXMT Advisors L.L.C., a subsidiary of The Blackstone Group. Its revenue is primarily generated from interest income on its loan portfolio.

Blackstone Mortgage Trust, Inc. has a diversified geographic footprint, originating and purchasing senior loans collateralized by commercial properties in North America, Europe, and Australia. A percentage of the collateralized real estate properties are located in key markets such as New York, California, and the United Kingdom. As of September 30, 2025, its portfolio was diversified across various geographies, including the Sunbelt (22%), Northeast (14%), West (11%), Midwest (4%), Northwest (3%) in the US, and the UK (19%). The company has also been capitalizing on attractive relative value opportunities in Europe and Australia to further diversify its geographic exposure.

Blackstone Mortgage Trust, Inc.'s brand reputation is bolstered by its affiliation with The Blackstone Group, providing it with a competitive advantage through access to market data and resources. S&P Global Ratings revised its outlook on Blackstone Mortgage Trust Inc. to stable from negative in December 2025, reflecting stabilizing asset quality and improved commercial real estate market conditions. A short thesis published by Muddy Waters Research in December 2023 raised concerns about a potential liquidity crisis, but the recent S&P upgrade suggests a more positive trajectory for the company's reputation and financial stability.

Blackstone Mortgage Trust, Inc. has significant institutional ownership, with 529 institutional owners and shareholders holding a total of 129,267,888 shares, collectively owning over 50% of the company. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., iShares Core S&P Small-Cap ETF, Blackstone Inc., and State Street Corp. Individual investors hold approximately 31% ownership. Insiders have purchased a total of 93,050 BXMT shares for $1,637,135.00 over the last 24 months, while some insiders have sold shares.