BXMT
Real EstateBlackstone Mortgage Trust, Inc. · REIT - Mortgage · $3B
What is Blackstone Mortgage Trust, Inc.?
Blackstone Mortgage Trust is a commercial real estate finance company operating as a REIT. It focuses on originating senior loans secured by large-scale commercial properties across North America, Europe, and Australia.
Blackstone Mortgage Trust generates income by originating floating-rate senior loans collateralized by commercial real estate assets. As a REIT, it is required to distribute at least 90% of its taxable income to shareholders, making dividend income central to its investment thesis. The company targets large, institutional-quality properties and leverages its affiliation with Blackstone to source and underwrite deals across major global markets.
Originally founded in 1980 and headquartered in New York City, the company adopted its current name in May 2013 after rebranding from Capital Trust, Inc.
- Senior commercial real estate loans in North America
- Cross-border lending across Europe and Australia
- Floating-rate loan origination on institutional properties
- REIT structure with regular income distributions
Is BXMT a Good Stock to Buy?
UQS Score rates BXMT as Below Average overall.
Among the five pillars, Quality stands out as the relative bright spot, reflecting the senior-secured nature of the loan portfolio and the structural protections that come with first-lien collateral. Valuation is rated Attractive, suggesting the market may already be pricing in a meaningful degree of risk.
The Moat, Growth, and Risk pillars are all rated Weak — pointing to limited competitive differentiation, constrained earnings expansion potential, and elevated exposure to credit and interest-rate dynamics in commercial real estate.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does BXMT pay dividends?
Yes — Blackstone Mortgage Trust, Inc. pays a dividend.
BXMT pays a regular dividend, consistent with its REIT structure that mandates distributing the majority of taxable income to shareholders. The dividend is a core feature of the investment case rather than a discretionary payout. Investors should weigh the yield against the Weak Risk pillar rating, as commercial real estate credit stress can pressure dividend sustainability.
When does BXMT report earnings?
Blackstone Mortgage Trust reports earnings on a quarterly cadence, typical for US-listed REITs.
Results have reflected the broader pressures facing commercial real estate lenders, including elevated credit loss provisions and the impact of higher-for-longer interest rates on borrower performance. The floating-rate loan book provides some natural hedge on the income side, though asset quality trends remain a key watchpoint.
For the most recent quarter's results, visit Blackstone Mortgage Trust's investor relations page directly.
BXMT Price History
+4.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Blackstone Mortgage Trust, Inc.?
Based on Blackstone Mortgage Trust, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
BXMT Long-term Outlook
The fundamental outlook for BXMT is shaped by its Weak Growth and Weak Risk pillar ratings. Loan origination volumes are likely to remain subdued while commercial real estate markets work through a correction cycle. The Attractive Valuation label suggests downside may be partially reflected in the current price, but a sustained recovery in the business profile depends on stabilization in property values and borrower credit quality.
Growth drivers
- Potential recovery in commercial real estate transaction volumes
- Floating-rate loan structure benefiting from rate environment normalization
- Blackstone platform relationships supporting deal sourcing
Key risks
- Continued credit deterioration in the commercial real estate sector
- Dividend sustainability under pressure from loan loss provisions
- Limited competitive moat relative to other commercial mortgage REITs
BXMT vs Peers
BXMT operates in a competitive segment of commercial real estate finance alongside other specialty lenders and mortgage REITs.
Ready Capital focuses on smaller-balance commercial loans, targeting a different borrower segment than BXMT's large institutional deals.
Redwood Trust emphasizes residential mortgage credit and jumbo loan securitization, giving it a different risk and income profile than BXMT.
MFA Financial concentrates on residential mortgage assets, contrasting with BXMT's exclusive focus on commercial property lending.
Frequently Asked Questions
What does Blackstone Mortgage Trust do?
Blackstone Mortgage Trust originates senior loans secured by commercial real estate properties. It operates as a REIT, lending against institutional-quality assets in North America, Europe, and Australia. The company earns income from interest on its floating-rate loan portfolio and distributes the majority of that income to shareholders.
Does BXMT pay dividends?
Yes, BXMT pays a regular dividend. As a REIT, it is required to distribute at least 90% of its taxable income to shareholders. The dividend is a central part of the investment case, though investors should monitor the Risk pillar given current commercial real estate credit conditions.
When does BXMT report earnings?
Blackstone Mortgage Trust reports earnings on a quarterly cadence, in line with standard practice for US-listed REITs. For the exact schedule and most recent results, check the investor relations section of the company's official website.
Is BXMT a good stock to buy?
UQS Score rates BXMT as Below Average overall. The Quality pillar is rated Good and Valuation is Attractive, but Moat, Growth, and Risk are all rated Weak. Whether it fits your portfolio depends on your income needs and risk tolerance. The full pillar breakdown is available to UQS Pro members.
Is BXMT overvalued?
The UQS Valuation pillar for BXMT is rated Attractive, suggesting the stock is not trading at a premium relative to its fundamentals. This may reflect the market pricing in credit and sector risks. Attractive valuation alone does not offset weak scores in other pillars.
How does BXMT compare to its competitors?
BXMT focuses on large-balance, senior commercial real estate loans — a narrower and more institutional niche than peers like Ready Capital or MFA Financial, which lean toward smaller-balance or residential mortgage assets. Redwood Trust also differs by concentrating on residential credit. BXMT's Blackstone affiliation is a key differentiator in deal sourcing.
What is BXMT's market cap bracket?
Blackstone Mortgage Trust is classified as a mid-cap company. This places it in a segment that typically offers more liquidity than small-cap peers while remaining smaller than the largest publicly traded REITs in the commercial real estate finance space.
Who founded Blackstone Mortgage Trust?
The company traces its roots to 1980 and operated for many years as Capital Trust, Inc. It was rebranded as Blackstone Mortgage Trust in May 2013 following its strategic alignment with the Blackstone platform. Full founding history is publicly available through the company's filings.
Is BXMT a long-term quality investment?
As a long-term quality indicator, BXMT's Below Average UQS Score reflects meaningful headwinds. The Weak Moat and Weak Growth ratings suggest limited structural advantages and constrained earnings expansion. The Good Quality rating offers some reassurance on portfolio construction, but long-term conviction requires monitoring credit trends closely.
What is the main competitive advantage of Blackstone Mortgage Trust?
BXMT's primary differentiator is its affiliation with Blackstone, one of the world's largest alternative asset managers. This relationship supports deal flow and underwriting credibility. However, the UQS Moat pillar is rated Weak, indicating this advantage may not translate into durable pricing power or barriers to competition.
What sector does BXMT belong to?
BXMT operates in the Real Estate sector, specifically within commercial real estate finance. It is structured as a mortgage REIT, meaning it holds loans rather than physical properties. Investors can explore other [real estate sector stocks](/sector/real-estate) on UQS Score for broader context.
Is BXMT a growth stock or value stock?
Based on UQS pillar labels, BXMT leans toward a value or income profile rather than growth. The Growth pillar is rated Weak, while Valuation is rated Attractive. It is primarily an income-oriented REIT rather than a company expected to deliver rapid earnings expansion.
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Pro Analysis
BXMT — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 20, 2026 | 44.5 | 60.4 | 32.0 | 38.2 | 0.0 | 91.9 | 0.0 |
| May 16, 2026 | 44.5 | 60.4 | 32.0 | 38.2 | 0.0 | 91.8 | 0.0 |
| May 12, 2026 | 44.5 | 60.4 | 32.0 | 38.2 | 0.0 | 91.6 | +0.2 |
| May 11, 2026 | 44.3 | 60.4 | 32.0 | 38.2 | 0.0 | 90.7 | +0.7 |
| May 10, 2026 | 43.6 | 60.4 | 32.0 | 38.2 | 0.0 | 85.7 | +0.7 |
| May 8, 2026 | 42.9 | 60.4 | 32.0 | 38.2 | 0.0 | 80.8 | -1.5 |
| May 3, 2026 | 44.4 | 60.4 | 32.0 | 38.2 | 0.0 | 91.1 | -4.2 |
| May 2, 2026 | 48.6 | 52.5 | 32.0 | 38.2 | 36.4 | 96.1 | -0.1 |
| May 1, 2026 | 48.7 | 52.5 | 32.0 | 38.2 | 36.4 | 96.3 | +4.1 |
| Apr 26, 2026 | 44.6 | 61.0 | 32.0 | 38.2 | 0.2 | 91.2 | -0.2 |
BXMT — Pillar Breakdown
Quality
— 60.4/100 (25%)Blackstone Mortgage Trust, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 38.2/100 (20%)Blackstone Mortgage Trust, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 0.0/100 (15%)Blackstone Mortgage Trust, Inc. presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 90.6/100 (15%)Blackstone Mortgage Trust, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 32/100 (25%)Blackstone Mortgage Trust, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for BXMT.
Score Composition
Financial Data
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How is the BXMT UQS Score Calculated?
The UQS (Unified Quality Score) for Blackstone Mortgage Trust, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Blackstone Mortgage Trust, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Blackstone Mortgage Trust, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.