(BXMT) Blackstone Mortgage Trust - Overview
Sector: Real Estate | Industry: REIT - Mortgage | Exchange: NYSE (USA) | Market Cap: 3.028m USD | Total Return: 8% in 12m
Avg Turnover: 23.8M
Qual. Beats: 0
Rev. Trend: -87.2%
Qual. Beats: 0
Warnings
Choppy
Tailwinds
No distinct edge detected
Blackstone Mortgage Trust (BXMT) is a real estate finance company operating as a Mortgage REIT (mREIT). The firm specializes in originating and managing senior floating-rate mortgage loans collateralized by commercial real estate assets across North America, Europe, and Australia. By focusing on senior debt, the company maintains a first-priority claim on the underlying properties in the event of borrower default.
The business model relies on the spread between the interest income earned on its loan portfolio and the cost of the capital used to fund those loans. As a REIT, the company is legally required to distribute at least 90% of its taxable income to shareholders annually in the form of dividends. This structure makes the firm particularly sensitive to fluctuations in short-term interest rates and the overall health of the global commercial property market.
Investors can further evaluate these credit risk profiles and yield metrics by analyzing the data on ValueRay. Blackstone Mortgage Trust is headquartered in New York and has been managed under its current name since 2013.
- Federal Reserve interest rate trajectory influences floating rate loan net interest income
- Commercial real estate office sector distress impacts loan loss provisions and liquidity
- Credit quality performance across global portfolio dictates dividend sustainability and coverage
- Access to low-cost warehouse financing and securitization markets determines investment capacity
- Strategic sponsorship from Blackstone Group provides deal flow and capital market advantages
| Net Income: 103.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.16 > 1.0 |
| NWC/Revenue: -557.4% < 20% (prev 552.6%; Δ -1.11k% < -1%) |
| CFO/TA 0.02 > 3% & CFO 345.1m > Net Income 103.6m |
| Net Debt (15.3b) to EBITDA (964.5m): 15.91 < 3 |
| Current Ratio: 0.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (169.1m) vs 12m ago -1.70% < -2% |
| Gross Margin: 62.56% > 18% (prev 0.89%; Δ 6.17k% > 0.5%) |
| Asset Turnover: 7.76% > 50% (prev 8.27%; Δ -0.51% > 0%) |
| Interest Coverage Ratio: 0.93 > 6 (EBITDA TTM 964.5m / Interest Expense TTM 967.5m) |
| A: -0.44 (Total Current Assets 688.8m - Total Current Liabilities 9.25b) / Total Assets 19.6b |
| B: -0.10 (Retained Earnings -2.03b / Total Assets 19.6b) |
| C: 0.05 (EBIT TTM 895.7m / Avg Total Assets 19.8b) |
| D: -0.12 (Book Value of Equity -2.02b / Total Liabilities 16.2b) |
| Altman-Z'' = -3.02 = D |
| DSRI: 1.00 (Receivables 137.0m/146.6m, Revenue 1.54b/1.65b) |
| GMI: 1.43 (GM 62.56% / 89.25%) |
| AQI: 19.89 (AQ_t 0.96 / AQ_t-1 0.05) |
| SGI: 0.93 (Revenue 1.54b / 1.65b) |
| TATA: -0.01 (NI 103.6m - CFO 345.1m) / TA 19.6b) |
| Beneish M = 8.50 (Cap -4..+1) = D |
As of May 28, 2026, the stock is trading at USD 18.58 with a total of 1,409,185 shares traded.
Over the past week, the price has changed by +4.44%,
over one month by -7.65%,
over three months by -0.86% and
over the past year by +8.00%.
Blackstone Mortgage Trust has received a consensus analysts rating of 3.75. Therefore, it is recommended to hold BXMT.
- StrongBuy: 3
- Buy: 0
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 21 | 13% |
P/E Trailing = 29.9167
P/E Forward = 57.1429
P/S = 6.4843
P/B = 0.8866
P/EG = 254.8
Revenue TTM = 1.54b USD
EBIT TTM = 895.7m USD
EBITDA TTM = 964.5m USD
Long Term Debt = 6.80b USD (from longTermDebt, last quarter)
Short Term Debt = 9.09b USD (from shortTermDebt, last quarter)
Debt = 15.9b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.3b USD (calculated: Debt 15.9b - CCE 549.2m)
Enterprise Value = 18.4b USD (3.03b + Debt 15.9b - CCE 549.2m)
Interest Coverage Ratio = 0.93 (Ebit TTM 895.7m / Interest Expense TTM 967.5m)
EV/FCF = 54.92x (Enterprise Value 18.4b / FCF TTM 334.6m)
FCF Yield = 1.82% (FCF TTM 334.6m / Enterprise Value 18.4b)
FCF Margin = 21.79% (FCF TTM 334.6m / Revenue TTM 1.54b)
Net Margin = 6.75% (Net Income TTM 103.6m / Revenue TTM 1.54b)
Gross Margin = 62.56% ((Revenue TTM 1.54b - Cost of Revenue TTM 574.9m) / Revenue TTM)
Gross Margin QoQ = 20.37% (prev 70.26%)
Tobins Q-Ratio = 0.94 (Enterprise Value 18.4b / Total Assets 19.6b)
Interest Expense / Debt = 6.09% (Interest Expense 967.5m / Debt 15.9b)
Taxrate = 3.24% (3.67m / 113.3m)
NOPAT = 866.7m (EBIT 895.7m * (1 - 3.24%))
Current Ratio = 0.07 (Total Current Assets 688.8m / Total Current Liabilities 9.25b)
Debt / Equity = 4.65 (Debt 15.9b / totalStockholderEquity, last quarter 3.41b)
Debt / EBITDA = 15.91 (Net Debt 15.3b / EBITDA 964.5m)
Debt / FCF = 45.87 (Net Debt 15.3b / FCF TTM 334.6m)
Total Stockholder Equity = 3.53b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.52% (Net Income 103.6m / Total Assets 19.6b)
RoE = 1.86% (Net Income TTM 103.6m / Total Stockholder Equity 5.56b)
RoCE = 7.24% (EBIT 895.7m / Capital Employed (Equity 5.56b + L.T.Debt 6.80b))
RoIC = 4.49% (NOPAT 866.7m / Invested Capital 19.3b)
WACC = 6.30% (E(3.03b)/V(18.9b) * Re(8.43%) + D(15.9b)/V(18.9b) * Rd(6.09%) * (1-Tc(0.03)))
Discount Rate = 8.43% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -86.67 | Cagr: -1.07%
[DCF] Terminal Value 73.94% ; FCFF base≈349.7m ; Y1≈321.1m ; Y5≈284.6m
[DCF] Fair Price = N/A (negative equity: EV 4.52b - Net Debt 15.3b = -10.8b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.22 | # QB: 0
Revenue Correlation: -87.20 | Revenue CAGR: -10.31% | SUE: 0.70 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.40 | Chg30d=-1.97% | Revisions=-20% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.40 | Chg30d=-6.46% | Revisions=-20% | Analysts=7
EPS current Year (2026-12-31): EPS=1.45 | Chg30d=-12.36% | Revisions=-43% | GrowthEPS=+201.7% | GrowthRev=+7.0%
EPS next Year (2027-12-31): EPS=1.97 | Chg30d=+0.82% | Revisions=N/A | GrowthEPS=+35.1% | GrowthRev=-12.1%
[Analyst] Revisions Ratio: -43%