Granite Point Mortgage Trust: Write-Offs Are Accelerating [Seeking Alpha]
Blackstone Mortgage Trust, Inc. (BXMT)
Last blackstone mortgage trust, inc. earnings: 4/29 04:01 pm
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US:NYSE Investor Relations:
ir.blackstonemortgagetrust.com/shareholders/default.aspx
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Source: Seeking Alpha
GPMT has experienced significant office loan defaults in Q2-Q4 2023, resulting in write-offs and under-earning its dividend. While a 67% discount to book value is massive, I discuss why I'm staying away from this one. This idea was discussed in more depth with members of my private investing community, High Yield Landlord. Learn More » Dear readers, Granite Point Mortgage Trust NYSE: GPMT ) is a relatively small mortgage REIT (mREIT) with a nearly $3 Billion loan book invested in 100% floating rate loans. Its business is very similar to that of a better knows Blackstone Mortgage Trust ( BXMT ). Its loans are primarily backed by office projects (43%), followed by multifamily (32%) and retail (10%). I've written a number of articles on mortgage REITs, explaining why high interest rates are problematic for the sector and are likely to result in significant defaults. In short, the trouble is that as interest payments rise, borrowers come under more and more stress, especially w
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BXMT
News
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at Keefe, Bruyette & Woods from $20.50 to $18.00. They now have a "market perform" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at JPMorgan Chase & Co. from $18.50 to $17.50. They now have a "neutral" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at UBS Group AG from $21.00 to $19.00. They now have a "neutral" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at Wells Fargo & Company from $22.00 to $20.00. They now have an "overweight" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
BXMT
Earnings
- 4/24/24 - Miss
BXMT
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- BXMT's page on the SEC website