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Blackstone Mortgage 7.9% Dividend Yield Is Not Good Enough [Seeking Alpha]

BLACKSTONE MTG TRUST INC (BXMT)  More Company Research Source: Seeking Alpha
Last blackstone mtg trust inc earnings: 4/24 04:16 pm Check Earnings Report
PDF Summary Blackstone Mortgage Trust ( BXMT ) is a pretty solid mortgage REIT. Investors really like the space they are in which is CRE loans. I have a mildly bearish outlook but only because of the current price and if it dipped a bit I would become neutral. Issuing new shares BXMT trades around 117% of trailing book value. When they report their 2 nd quarter figures I would not be surprised if book value per shares is up slightly because credit sensitive assets have done quite well over the last 100ish days. They should issue new stock soon because they trade at a material premium: It is in the external manager’s best interest because it would materially increase the amount of management fees the mortgage REIT is paying. It is in the common shareholders' interest because it would increase book value per share. It would give the management more equity to be able to leverage into creating new loans. New stock would not only increase assets per share, b [Read more]

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