pixhook/E+ via Getty Images Investment thesis Blackstone’s (NYSE:BX) stock has almost doubled in price in 2023, but 2024 has been bumpy so far, with a notable YTD pullback. My analysis suggests that the pullback is likely to be temporary because fundamentals keep improving, and the company continues demonstrating strong growth in assets under management and…
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….
ivanastar/E+ via Getty Images The early 2024 outlook for multifamily REIT investment could not have been gloomier. In its April report, Apartment List describes slowing rent growth as we enter the peak apartment leasing season. Apartment List Source: Apartment List In part, this could be due to the outsized new deliveries and starts of housing…
Roman Tiraspolsky Let’s drift into the mortgage arena and discuss what’s waiting in the wings for the Blackstone Mortgage Trust, Inc. (NYSE:BXMT). For those unaware, we covered various components of Blackstone (BX) extensively in the past week, including the company as a whole its Blackstone’s Apartment Income REIT Corp. (AIRC) acquisition. However, today’s analysis builds…
JamesBrey Blackstone Secured Lending (NYSE:BXSL) convinces with its strong net investment income trajectory, a low pay-out ratio, top loan quality, a growing net asset value as well as a commitment to raising the quarterly dividend. Although I am not chiefly a BDC investor, I believe Blackstone Secured Lending makes a very strong value proposition for…
airdone Blackstone Mortgage Trust, Inc. (NYSE:BXMT) proved its value to passive income investors in February with a well-received earnings release for 4Q-23: The commercial mortgage real estate investment trust comfortably covered its dividend pay-out with distributable earnings, though it was forced to increase its CECL reserve for credit losses again. With that being said, Blackstone…
JamesBrey As my regular readers probably know, I am not bullish on the BDC (BIZD) sector right now. I recently sounded caution on sector blue chips Ares Capital Corp (ARCC) and Main Street Capital (MAIN) while also pointing out the challenges being faced by FS KKR (FSK) as well as the sector as a whole….
Pixelimage Blackstone Secured Lending (NYSE:BXSL) out-earned its dividend with net investment income in the fourth quarter which in turn led to the BDC reporting a 1% QoQ increase in its net asset value per share. The BDC’s large floating-rate debt portfolio is still producing top results for Blackstone Secured Lending and BXSL is a rare…
Chip Somodevilla Blackstone Has Almost $200B In Dry Powder I updated Blackstone Inc. (NYSE:BX) investors that the easy money in BX was likely over, even as BX surged and attempted to break through the $130 resistance level. However, the market has spoken, as BX has underperformed the S&P 500 (SPX) (SPY) since my previous update…
ryasick Mortgage REIT Blackstone Mortgage Trust (NYSE:BXMT) delivered a solid earnings beat of $0.07 per-share last week, causing shares to increase by 4%. However, the mortgage REIT’s portfolio is showing weakness as the percentage of performing loans declined for the third time in Q4’23. Additionally, Blackstone Mortgage Trust has a smaller dividend safety margin (weaker…
Foryou13 Blackstone Inc. (NYSE:BX) is a profitable and internationally-diversified asset management company with multiple fee streams. The asset manager just reported earnings for its fourth quarter that exceeded expectations in terms of distributable earnings. Blackstone has a solid history of growth under its belt and the company comfortably covered its dividend with distributable earnings throughout…
champpixs By Breakingviews Not even the mighty Blackstone (BX) can defy the economy. At present, that’s a good thing. The $1 trillion asset manager broke a five-quarter run of declining earnings in the fourth quarter. Money deployed for deals and cash flowing into its funds also increased year-on-year after a similar-length dry spell. Boss Steve…
Jonathan Knowles/DigitalVision via Getty Images Blackstone Mortgage Trust (NYSE:BXMT) is one of the largest and most respected Mortgage REITs. It is externally managed by a subsidiary of Blackstone. BXMT provides short-term transitional floating rate loans to borrowers for properties that are being are being renovated, are under construction, or not stabilized due to existing or…
ugurhan Blackstone Secured Lending Fund (NYSE:BXSL) is a business development company or BDC externally managed by Blackstone Credit BDC Advisors. As a result, BXSL benefits from Blackstone Credit’s massive scale while leveraging its parent, the leading alternative asset manager, Blackstone Inc. (BX). BXSL benefits from Blackstone Credits’ “strong backing and potential access to high-quality investment…
AerialPerspective Works The decision to make Blackstone Secured Lending (NYSE:BXSL) my second-largest business development company holding after Hercules Capital (HTGC) was driven by three core factors. The BDC’s net asset value per share has been rising, it continues to out-earn its quarterly base dividend, and underwriting quality remains extremely high with loans on non-accrual status…
WTolenaars/iStock via Getty Images On our initial coverage of Blackstone Mortgage Trust, Inc. (NYSE:BXMT), we introduced the company and delved into the portfolio. While the scale and finesse of a Blackstone (BX) sponsored REIT is obviously hard to match, we were a little less thrilled by the prospect of buying this. We suggested investors take…
Kameleon007 Investors in leading alternative asset manager Blackstone Inc. (NYSE:BX) have continued to outperform the S&P 500 (SP500) over the past year, registering a 1Y total return of more than 73%. Despite that, BX remains well below its November 2021 highs at the $150 level, notwithstanding its stellar performance. BX has also significantly outperformed the…
Zbynek Pospisil/iStock via Getty Images There’s no better way to sum up the commercial real estate sector than Ray Bradbury’s classic, Something Wicked This Way Comes. I remember reading the book over three decades ago (when I was in high school) and this nightmarish novel analyzing the conflicts of good and evil is relevant today:…
koto_feja/iStock via Getty Images We recently sold our position in Blackstone Secured Lending (NYSE:BXSL) after holding it for nearly one year and earning a strong profit on our position. While the ~11% dividend yield is certainly attractive and appears sustainable for at least the near term, we sold our position for three reasons that undermine…
porcorex Introduction Over the coming months, I will have a series of articles discussing how to build a balanced retirement portfolio using Business Development Companies (“BDCs”) common stocks currently yielding almost 12% and their safer notes – baby bonds/preferred shares with yield-to-maturities ranging from 6.5% to 9.0%. This article discusses Blackstone Secured Lending (NYSE:BXSL) currently…
skynesher Blackstone Mortgage Trust (NYSE:BXMT) is one of the largest mortgage REITs out there, with a loan portfolio of nearly $30 billion. In addition to being the largest, the mREIT is also one of the best managed, with an experienced management team run by Blackstone (BX) itself. I started coverage on the stock in May…
duoogle Dear readers/followers, Last I wrote about Blackstone Mortgage Trust (NYSE:BXMT) was in May just after the company has released its Q1 2023 earnings. I issued a BUY rating for the stock at $17.33 per share, mainly because I saw the valuation as overly depressed, as the market was pricing in a total write-down (with…
Thos Robinson/Getty Images Entertainment Investors who held on to their positions in leading alternative asset manager Blackstone Inc. (NYSE:BX) have outperformed the S&P 500 (SPX) (SPY) since it bottomed out in December 2022. BX buyers nearly regained control of the pivotal $110 resistance level before sellers returned to digest its recent recovery amid market-wide profit-taking….
Makhbubakhon Ismatova Growing one’s income stream is one of the best ways to eating well and sleeping well before and during one’s retirement. That’s because while it seems everyone else is heavily invested in low-yielding index funds and/or chasing capital appreciation, the income investor gets to enjoy real cash that flows into their pocket. The…