Blackstone Mortgage Trust, Inc. (BXMT) AI Stock Analysis

Blackstone Mortgage Trust, Inc. is a real estate finance company specializing in originating senior loans secured by commercial properties across North America, Europe, and Australia. Organized as a real estate investment trust, it distributes at least 90% of its taxable income to shareholders to minimize federal income tax obligations. The company provides financing solutions through senior loans backed by a diversified portfolio of commercial real estate assets, including office buildings, retail centers, and industrial facilities in key operational markets. It executes a disciplined underwriting approach focused on collateralized lending, credit quality, and asset performance to safeguard investor capital.

Annual revenue peaked at $2.01B in FY2023 following 52.6% growth, but declined 12.2% to $1.77B in FY2024 and fell another 14.0% to $1.52B in FY2025. Gross margin shifted from 100.0% in FY2021 and 94.1% in FY2023 to 76.9% in FY2025, while operating margin was 71.6% in FY2025 compared to 81.6% in FY2021. After posting net income of -$204.1M in FY2024, net income recovered to $109.6M in FY2025, though EPS was -$1.47. For the trailing twelve months ended June 30, 2026, revenue was $402.6M with a profit margin of 3.8% and EPS of $0.08, while quarterly revenue fell 73.1% year-over-year despite quarterly earnings growing 9.7%.

As of June 30, 2026, the company held $432.8M in cash and short-term investments against $15.81B in total debt, resulting in net debt of $15.38B and a debt-to-equity ratio of 4.85. Total assets stood at $19.40B compared to shareholders' equity of $3.26B, alongside a current ratio of 0.06. Free cash flow reached $275.9M in FY2025, down from $365.9M in FY2024. In FY2025, the company deployed capital toward $322.7M in dividends paid and $109.5M in share buybacks.

At $10.53 per share, BXMT has a market cap of $1.77B and an enterprise value of $17.14B. Its trailing P/E of 131.6x and forward P/E of 57.1x stand significantly above the median of its US-listed Real Estate peers at 21.6x and 23.5x, respectively. The company trades at a price-to-sales multiple of 4.4x versus the peer median of 3.7x, while its price-to-book multiple is 0.7x. Over the past year, BXMT fell 33.7% compared to a 16.8% gain for the S&P 500, and its 5-year return of -43.7% lagged the S&P 500 return of 83.0%.

BXMT pays a quarterly dividend with an annualized forward payout of $1.88 per share, translating to a dividend yield of 17.85%. It has paid consecutive dividends for 15 years, though its 5-year annualized dividend growth is -5.4%. The most recent ex-dividend date was September 30, 2026.

Wall Street coverage consists of 4 Strong Buy, 1 Buy, and 4 Hold ratings, with 0 Sell or Strong Sell recommendations. The mean price target of $16.86 represents a 60.1% premium to the last close of $10.53. For FY2026 ending December 31, 2026, analysts estimate revenue of $321.9M and EPS of $1.17, representing 181.8% EPS growth. Over the last four quarters, BXMT beat EPS estimates 1 time. The next earnings date is October 29, 2026.

This page is an AI-written research summary of Blackstone Mortgage Trust, Inc. (BXMT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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