Blackstone Mortgage Trust, Inc.
- Open
- 14.48
- Day high
- 14.76
- Day low
- 14.46
- Prev close
- 14.54
- Volume
- 2.9M
- Mkt cap
- $2.5B
- P/E (TTM)
- 182.1
- EPS (TTM)
- $0.08
- P/B
- 0.8
- P/S
- 1.6
- Yield
- 12.90%
- Per share
- $1.88
- ▼Insiders net selling -$95K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
Blackstone Mortgage Trust, Inc. (BXMT) is a Real Estate company listed on NYSE. The stock is down 22% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Blackstone Mortgage Trust, Inc. (BXMT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BXMT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.41 | $0.31 | -24.8% | $158M | +0.5% |
| Apr 29, 2026 | $0.38 | $0.49 | +28.9% | $159M | +34.1% |
| Feb 11, 2026 | $0.22 | $0.51 | +131.8% | $389M | +283.7% |
| Oct 29, 2025 | $0.19 | $0.24 | +26.3% | $133M | +22.6% |
| Jul 30, 2025 | $0.20 | $0.19 | -5.0% | $134M | +41.2% |
| Apr 30, 2025 | $0.01 | $0.17 | +1600.0% | $127M | +38.0% |
| Feb 12, 2025 | $-0.87 | $0.44 | +150.6% | $114M | +3.5% |
| Oct 23, 2024 | $0.36 | $0.49 | +36.1% | $112M | +1.7% |
| Jul 24, 2024 | $0.50 | $0.56 | +12.0% | $461M | +250.3% |
| Feb 14, 2024 | $0.66 | $0.69 | +4.5% | $154M | -1.8% |
| Oct 25, 2023 | $0.72 | $0.78 | +8.3% | $165M | +1.9% |
| Jul 26, 2023 | $0.69 | $0.79 | +14.5% | $177M | +4.2% |
BXMT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 16, 2026 | Cotton Leonard Wdirector | Grant | 1,831 | $17.12 |
| Jul 16, 2026 | Lynch Nnennadirector | Grant | 1,147 | $17.12 |
| Jul 16, 2026 | SAGALYN LYNNE Bdirector | Grant | 3,939 | $17.12 |
| Jul 16, 2026 | Hsu Chen Yidirector | Grant | 181 | $17.12 |
| Jul 16, 2026 | NASSAU HENRY Ndirector | Grant | 3,044 | $17.12 |
| Jul 1, 2026 | Pena Fernando Austindirector, officer: President | Sell | 1,670 | $17.07 |
| Jun 29, 2026 | SAGALYN LYNNE Bdirector | Grant | 6,597 | $17.43 |
| Jun 29, 2026 | Perez-Alvarado Gildadirector | Grant | 6,597 | $17.43 |
| Jun 29, 2026 | Hsu Chen Yidirector | Grant | 6,597 | $17.43 |
| Jun 29, 2026 | Pena Fernando Austindirector, officer: President | Sell | 2,398 | $17.48 |
| Jun 29, 2026 | Nash Michael B.director | Grant | 6,597 | $17.43 |
| Jun 29, 2026 | Lynch Nnennadirector | Grant | 6,597 | $17.43 |
| Jun 29, 2026 | Cotton Leonard Wdirector | Grant | 6,597 | $17.43 |
| Jun 29, 2026 | NASSAU HENRY Ndirector | Grant | 6,597 | $17.43 |
| Jun 18, 2026 | URBASZEK MARCINofficer: Chief Financial Officer | Sell | 1,352 | $18.35 |
Source: BXMT SEC Form 4 filings, latest Jul 16, 2026. For informational purposes only — not investment advice.
See the full BXMT insider & 13F page →Blackstone Mortgage Trust, Inc. company profile
Overview
Blackstone Mortgage Trust, Inc. (NYSE:BXMT) is a real estate investment trust (REIT) that specializes in commercial real estate lending. Originally founded in 1997 as Capital Trust, Inc., the company was acquired by Blackstone Group in 2013 and rebranded to its current name. The company operates as a mortgage REIT, focusing on originating and investing in senior loans secured by high-quality commercial properties across North America, Europe, and Australia. As a REIT, BXMT is required to distribute at least 90% of its taxable income to shareholders to maintain its tax-advantaged status.
Business
Blackstone Mortgage Trust operates in the commercial real estate finance industry, specifically as a mortgage REIT that originates and holds senior loans collateralized by commercial properties. The company's core business involves providing debt financing to real estate developers, owners, and operators who need capital for property acquisition, development, or refinancing. The company's loan portfolio spans multiple property types and geographies. Multifamily properties (apartment buildings and residential complexes) represent a significant portion of the portfolio at approximately 26% of total loans. Industrial properties (warehouses, distribution centers, manufacturing facilities) comprise another major segment. The company also lends against office buildings, though this exposure has been strategically reduced from 40% to 21% of the portfolio due to sector challenges. Other property types include self-storage facilities, hospitality properties, and data centers. Geographically, approximately 59% of the portfolio is invested in North American properties, while 41% is in international markets including Europe, the United Kingdom, and Australia. The company has been expanding its international presence as part of its diversification strategy. BXMT's loans are typically senior secured debt, meaning they have first claim on the underlying real estate collateral in case of default. The loans generally have terms of 2-5 years and carry floating interest rates, often with interest rate caps to protect borrowers from rate volatility. The average loan-to-value ratio across the portfolio is approximately 64%, providing a substantial equity cushion below the company's debt position.
Revenue model
Blackstone Mortgage Trust generates revenue primarily through interest income from its loan portfolio. The company earns the spread between what it pays to borrow money (through corporate debt, securitizations, and other financing vehicles) and what it charges borrowers on its loans. Most loans carry floating interest rates tied to benchmark rates like SOFR (Secured Overnight Financing Rate), allowing the company to benefit from rising rate environments while maintaining relatively stable net interest margins. The company's customers are primarily commercial real estate sponsors, developers, and property owners who need bridge financing, acquisition financing, or development capital. These borrowers typically cannot access traditional bank financing due to timing constraints, property conditions, or loan size requirements. BXMT fills this gap by providing faster execution and more flexible terms than traditional lenders. Several factors influence the company's profitability and margins. Interest rate environments significantly impact both funding costs and loan yields, though the floating-rate nature of most loans provides some protection. Commercial real estate market conditions affect both loan demand and credit quality - stronger markets increase origination opportunities while reducing default risk. Competition from banks and other lenders can compress loan spreads during favorable market conditions. Credit losses represent the most significant margin risk, as defaults require reserves and can result in principal losses. The company's focus on senior secured loans with conservative loan-to-value ratios helps mitigate this risk, but certain property sectors like office buildings have experienced elevated stress levels. Funding costs are another critical margin driver, as BXMT relies on corporate debt, securitizations (including CLOs - Collateralized Loan Obligations), and other financing vehicles to fund its loan originations. Access to diverse funding sources and maintaining strong credit ratings help optimize funding costs.
Risks & safety
The company presents a moderate to high risk profile with several concerning factors offset by adequate liquidity management. • Liquidity Position: $1.6 billion in available liquidity provides near-term financial flexibility, though this represents only about 8% of total assets • Leverage Metrics: Debt-to-equity ratio of 3.4x (down from higher levels) remains elevated for a lending business, creating refinancing risk • Credit Quality Concerns: $970 million in impaired loans (5% of portfolio) with expected losses in the mid-20% range on these assets • Asset Quality: 95% of loans currently performing, though this has improved from 88% at the credit cycle trough • Valuation Metrics: Trading at 0.93x book value suggests market skepticism about asset quality and earnings sustainability • Dividend Coverage: Current dividend appears sustainable based on distributable earnings, though it was reduced from $0.62 to $0.47 per quarter in 2024 • Refinancing Risk: Heavy reliance on corporate debt markets and securitizations creates ongoing refinancing requirements • Sector Concentration Risk: Despite diversification efforts, exposure to challenged commercial real estate sectors remains significant
Recent development
Over the past few years, Blackstone Mortgage Trust has undergone significant strategic repositioning in response to commercial real estate market stress, particularly in the office sector. The company has dramatically reduced its office exposure from 40% of the portfolio to 21% through strategic repayments and resolutions, collecting over $3 billion in office loan repayments since early 2022. The company has simultaneously pivoted toward more resilient property sectors, with multifamily, industrial, and self-storage properties now representing nearly 50% of the portfolio. This shift reflects management's view that these sectors offer better long-term fundamentals and lower credit risk. The company has also expanded internationally, with 41% of the portfolio now in markets outside North America, including Canada, Europe, the UK, and Australia. A major strategic development has been the introduction of a net lease investment strategy, representing a new business line that focuses on sale-leaseback transactions and direct property ownership. This diversification effort aims to generate more stable, long-term cash flows compared to the traditional bridge lending model. The company has also focused heavily on balance sheet optimization, reducing its debt-to-equity ratio from higher levels to 3.4x and maintaining strong liquidity positions. Recent financing activities include a $1.1 billion corporate debt transaction and a $1 billion CLO issuance with a 30-month reinvestment period, providing funding flexibility for future originations. Impaired asset resolution has been a key operational focus, with the company resolving $1.5 billion of impaired assets over the past six months and reducing the impaired loan balance by 58% from its peak. Management expects to continue this resolution process while redeploying capital into new loans with attractive risk-adjusted returns.
BXMT company profile · for informational purposes only — not investment advice.
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