Blackstone, KKR Mortgage REITs Stung By Office Debt Challenges [BNN Bloomberg (Canada)]
Blackstone Mortgage Trust, Inc. (BXMT)
Last blackstone mortgage trust, inc. earnings: 4/29 04:01 pm
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Source: BNN Bloomberg
Blackstone Mortgage Trust Inc. downgraded 13 loans during the first quarter, seven of which were backed by US offices, and took on the legal title to an office building in Mountain View, California, according to an earnings report and a conference call Wednesday. KKR Real Estate Finance Trust Inc. said three of its eight loans on its watchlist are office debts. “We continue to address the ongoing credit cycle and reset in office values,” BXMT Chief Executive Officer Katie Keenan said on the earnings call Wednesday. “The recovery will take time, with additional reserves and losses along the way, as we've seen this quarter. But BXMT is well-prepared to navigate this period.” Office properties have been walloped as higher borrowing costs weigh on valuations. Landlords also face weaker demand for space in certain markets with the rise in remote work. But transactions in the market have started to pick up after being largely frozen in 2023. One property in downtown Los Angeles sold fo
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BXMT
News
- Blackstone Mortgage Trust: Red Flags For This 14% Yielder (Rating Downgrade) [Seeking Alpha]Seeking Alpha
- 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
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