Blackstone Mortgage Trust: Red Flags For This 14% Yielder (Rating Downgrade)

Dragon Claws The stock of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) did not react well to the mortgage trust’s first quarter earnings in which the company showed that it swung to a net loss amid loan problems in the office category: BXMT declined 4.6% on Thursday and may see additional selling pressure in the short term. An increase in the current expected credit loss reserve affected the company’s distributable earnings by $0.32 per share in 1Q24, which caused a dip of the dividend coverage ratio bel ...