Blackstone Mortgage Trust (BXMT)
Originates senior commercial real estate loans across North America, Europe, and Australia.
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Originates and acquires mostly floating-rate senior loans backed by institutional commercial properties across North America, Europe, and Australia, earning interest spread over financing costs. Joint ventures and resolved-property holdings complement the loan book, while a Blackstone subsidiary manages the REIT and supplies its personnel.
Originates and acquires senior loans backed by commercial properties, while also holding interests in a Bank Loan Portfolio Joint Venture, a Net Lease Joint Venture, and owned real estate assets obtained through portfolio resolutions. Lending spans North America, Europe, and Australia and targets institutional properties in major markets.
Earns primarily the spread between interest collected on largely floating-rate loans and the cost of secured credit facilities, collateralized loan obligations, other securitizations, and corporate debt. Blackstone’s real estate debt platform supplies sourcing, underwriting, and asset-management capabilities across regions without an internal workforce.
Operates as a single-segment mortgage REIT externally managed by a Blackstone subsidiary. Results depend on borrower performance, commercial-property values, financing availability and costs, interest rates, and continued REIT qualification.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | Raymond James | Downgrade | ||
| Aug 3, 2026 | Wells Fargo | Reiterate | Rating: —Target: — | Target: $18 |
| Jul 31, 2026 | Keefe, Bruyette & Woods | Downgrade | ||
| Jun 2, 2026 | UBS | Upgrade | Target: — | Target: $21 |
| Apr 16, 2026 | JP Morgan | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $432.8M · Total debt $15.81B · Total assets $19.40B · Shareholders' equity $3.26B
- Revenue
- $380.7M
- Operating income
- $249.4M
- Net income
- −$81.3M
HistoryDividendAnnual yieldUpcoming
| Institutions | 65.65% | 110.65M shares | |
|---|---|---|---|
| 356 holders · as of Jun 30, 2026 | |||
| Insiders | 5.00% | 8.42M shares | |
| 14 holders · as of Sep 18, 2026 | |||
| Other | 29.35% | 49.48M shares | |
| remainder | |||
168.54M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.82% | 24.98M | as of Jun 30, 2026 |
Blackstone Inc.Institution | 5.51% | 9.28M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.28% | 8.90M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.25% | 7.16M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.81% | 6.42M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 17, 2026 | Fernando Austin Pena | director, officer: President | −1,127 | $13.42 |
| Sep 17, 2026 | Marcin Urbaszek | officer: Chief Financial Officer | −864 | $13.42 |
| Aug 4, 2026 | Henry N. Nassau | director | +10,000 | $14.34 |
| Jun 30, 2026 | Fernando Austin Pena | director, officer: President | −1,670 | $17.07 |
| Jun 25, 2026 | Fernando Austin Pena | director, officer: President | −2,398 | $17.48 |
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CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Blackstone Mortgage Trust | $13.14 | −0.08% | $2.24B | 165.9 | 10.9 | 1.5 | +18.1% |
| Starwood Property Trust | $15.10 | 0.00% | $5.56B | 22.0 | 9.0 | 2.7 | +7.9% |
| KKR Real Estate Finance Trust | $6.62 | +0.08% | $434.7M | — | — | 1.0 | −41.6% |
| Ladder Capital | $9.41 | −0.05% | $1.20B | 22.5 | 8.7 | 3.2 | −40.9% |
| TPG RE Finance Trust | $7.19 | −0.28% | $553.5M | 13.3 | 6.7 | 2.1 | −58.7% |
| BrightSpire Capital | $4.28 | +0.14% | $528.9M | — | 7.1 | 1.6 | −2.8% |
| Ares Commercial Real Estate | $4.41 | −0.78% | $243.0M | — | 20.4 | 2.5 | — |
| Granite Point Mortgage Trust | $0.8476 | +0.59% | $39.7M | — | — | 0.3 | −87.2% |
| Median | 22.0 | 8.7 | 2.1 | −41.3% |