Blackstone Mortgage Trust (BXMT)
Market Price (2/16/2026): $19.535 | Market Cap: $3.4 BilSector: Financials | Industry: Mortgage REITs
Blackstone Mortgage Trust (BXMT)
Market Price (2/16/2026): $19.535Market Cap: $3.4 BilSector: FinancialsIndustry: Mortgage REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 9.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.6%, FCF Yield is 6.7% | Trading close to highsDist 52W High is -3.0%, Dist 3Y High is -3.0% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 459% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44% | Weak multi-year price returns2Y Excs Rtn is -6.8%, 3Y Excs Rtn is -47% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 31x |
| Low stock price volatilityVol 12M is 23% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.5% | |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Sustainable & Green Buildings. Themes include Private Credit, and ESG REITs. | Short seller reportMuddy Waters Research report on 12/6/2023. | |
| Key risksBXMT key risks include [1] deteriorating credit quality and a concentration of high-risk loans in its U.S. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 9.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.6%, FCF Yield is 6.7% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Sustainable & Green Buildings. Themes include Private Credit, and ESG REITs. |
| Trading close to highsDist 52W High is -3.0%, Dist 3Y High is -3.0% |
| Weak multi-year price returns2Y Excs Rtn is -6.8%, 3Y Excs Rtn is -47% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 459% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 31x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.5% |
| Short seller reportMuddy Waters Research report on 12/6/2023. |
| Key risksBXMT key risks include [1] deteriorating credit quality and a concentration of high-risk loans in its U.S. Show more. |
Qualitative Assessment
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Blackstone Mortgage Trust (BXMT) stock has gained about 10% since 10/31/2025 because of the following key factors:
1. Stable and Attractive Dividend Payouts.
Blackstone Mortgage Trust continued to offer a consistent quarterly dividend of $0.47 per share for the fourth quarter of 2025, which was payable on January 15, 2026. This maintained dividend signals financial stability and provides an attractive income stream, a key factor for investors in mortgage REITs, with a current dividend yield of 9.77%.
2. Positive Performance of Parent Company.
The strong fourth-quarter and full-year 2025 earnings reported by Blackstone (BX), the parent company, likely bolstered investor confidence in Blackstone Mortgage Trust. Blackstone announced significant increases in distributable earnings, which rose 20% for the full year 2025, and a 13% increase in assets under management (AUM) to nearly $1.3 trillion. As BXMT is externally managed by a Blackstone subsidiary, the overall strong performance of its parent organization can positively influence market perception of BXMT's management and operational stability.
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1. Stable and Attractive Dividend Payouts.
Blackstone Mortgage Trust continued to offer a consistent quarterly dividend of $0.47 per share for the fourth quarter of 2025, which was payable on January 15, 2026. This maintained dividend signals financial stability and provides an attractive income stream, a key factor for investors in mortgage REITs, with a current dividend yield of 9.77%.
2. Positive Performance of Parent Company.
The strong fourth-quarter and full-year 2025 earnings reported by Blackstone (BX), the parent company, likely bolstered investor confidence in Blackstone Mortgage Trust. Blackstone announced significant increases in distributable earnings, which rose 20% for the full year 2025, and a 13% increase in assets under management (AUM) to nearly $1.3 trillion. As BXMT is externally managed by a Blackstone subsidiary, the overall strong performance of its parent organization can positively influence market perception of BXMT's management and operational stability.
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Stock Movement Drivers
Fundamental Drivers
The 8.3% change in BXMT stock from 10/31/2025 to 2/15/2026 was primarily driven by a 8.3% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2152026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.04 | 19.54 | 8.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 508 | 508 | 0.0% |
| Net Income Margin (%) | 21.1% | 21.1% | 0.0% |
| P/E Multiple | 28.9 | 31.3 | 8.3% |
| Shares Outstanding (Mil) | 172 | 172 | 0.0% |
| Cumulative Contribution | 8.3% |
Market Drivers
10/31/2025 to 2/15/2026| Return | Correlation | |
|---|---|---|
| BXMT | 8.3% | |
| Market (SPY) | -0.0% | 21.1% |
| Sector (XLF) | -1.4% | 42.4% |
Fundamental Drivers
The 11.1% change in BXMT stock from 7/31/2025 to 2/15/2026 was primarily driven by a 6.0% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2152026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.59 | 19.54 | 11.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 485 | 508 | 4.8% |
| P/S Multiple | 6.2 | 6.6 | 6.0% |
| Shares Outstanding (Mil) | 172 | 172 | 0.0% |
| Cumulative Contribution | 11.1% |
Market Drivers
7/31/2025 to 2/15/2026| Return | Correlation | |
|---|---|---|
| BXMT | 11.1% | |
| Market (SPY) | 8.2% | 25.5% |
| Sector (XLF) | -1.1% | 34.7% |
Fundamental Drivers
The 19.7% change in BXMT stock from 1/31/2025 to 2/15/2026 was primarily driven by a 24.1% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2152026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.33 | 19.54 | 19.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 532 | 508 | -4.6% |
| P/S Multiple | 5.3 | 6.6 | 24.1% |
| Shares Outstanding (Mil) | 174 | 172 | 1.1% |
| Cumulative Contribution | 19.7% |
Market Drivers
1/31/2025 to 2/15/2026| Return | Correlation | |
|---|---|---|
| BXMT | 19.7% | |
| Market (SPY) | 14.3% | 57.4% |
| Sector (XLF) | 1.4% | 57.5% |
Fundamental Drivers
The 14.8% change in BXMT stock from 1/31/2023 to 2/15/2026 was primarily driven by a 352.2% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2152026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.02 | 19.54 | 14.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 611 | 508 | -16.9% |
| Net Income Margin (%) | 68.8% | 21.1% | -69.3% |
| P/E Multiple | 6.9 | 31.3 | 352.2% |
| Shares Outstanding (Mil) | 171 | 172 | -0.5% |
| Cumulative Contribution | 14.8% |
Market Drivers
1/31/2023 to 2/15/2026| Return | Correlation | |
|---|---|---|
| BXMT | 14.8% | |
| Market (SPY) | 74.0% | 50.3% |
| Sector (XLF) | 47.7% | 53.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BXMT Return | 20% | -24% | 13% | -8% | 21% | 3% | 19% |
| Peers Return | 26% | -14% | 26% | -4% | 8% | -2% | 38% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| BXMT Win Rate | 67% | 58% | 50% | 58% | 58% | 100% | |
| Peers Win Rate | 50% | 43% | 53% | 50% | 55% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BXMT Max Drawdown | -6% | -25% | -19% | -19% | -1% | -1% | |
| Peers Max Drawdown | -6% | -26% | -13% | -16% | -12% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: STWD, ARI, LADR, FBRT, BRSP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/13/2026 (YTD)
How Low Can It Go
| Event | BXMT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -49.2% | -25.4% |
| % Gain to Breakeven | 96.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -67.9% | -33.9% |
| % Gain to Breakeven | 211.1% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -11.7% | -19.8% |
| % Gain to Breakeven | 13.3% | 24.7% |
| Time to Breakeven | 121 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -98.4% | -56.8% |
| % Gain to Breakeven | 6252.9% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to STWD, ARI, LADR, FBRT, BRSP
In The Past
Blackstone Mortgage Trust's stock fell -49.2% during the 2022 Inflation Shock from a high on 11/11/2021. A -49.2% loss requires a 96.7% gain to breakeven.
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About Blackstone Mortgage Trust (BXMT)
Blackstone Mortgage Trust, Inc., a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013. Blackstone Mortgage Trust, Inc. was founded in 1997 and is headquartered in New York, New York.
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Here are 1-2 brief analogies to describe Blackstone Mortgage Trust (BXMT):
- Simon Property Group for commercial real estate debt. (If Simon Property Group owns and operates large retail properties, BXMT provides the mortgages for large commercial properties across various sectors.)
- Prologis for commercial real estate loans. (Similar to how Prologis owns and manages vast industrial real estate, BXMT finances a wide range of commercial property developments by originating loans.)
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- Senior Commercial Real Estate Loans: BXMT originates and acquires senior debt secured by high-quality commercial properties, primarily in North America, Europe, and Australia.
- Floating-Rate First Mortgages: These loans feature interest rates that adjust with market benchmarks, which helps mitigate interest rate risk for the trust.
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Blackstone Mortgage Trust (BXMT) primarily sells its services (i.e., originates and acquires senior loans) to other companies and institutional investors, not to individuals.
Due to the nature of commercial real estate lending and for competitive and privacy reasons, BXMT does not publicly disclose the specific names of its individual borrowers (its "customers") or their stock symbols. Its loan portfolio is diversified across numerous projects and sponsors.
Instead, its customer base consists of a diverse range of institutional-grade sponsors who require financing for commercial real estate projects. These customers generally fall into the following categories:
- Commercial Real Estate Developers: Entities focused on developing new commercial properties or redeveloping existing ones across various asset classes (e.g., office, industrial, multifamily, hospitality, retail).
- Real Estate Private Equity Firms and Investment Funds: Investment vehicles that acquire, manage, and divest commercial real estate assets, seeking debt financing for their portfolio properties or new acquisitions.
- Large Property Owners and Institutional Sponsors: Established companies or institutions that own and manage significant portfolios of commercial real estate and require financing for acquisitions, refinancing, or property improvements.
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- Blackstone Inc. (BX)
- Deloitte & Touche LLP
- Skadden, Arps, Slate, Meagher & Flom LLP
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Timothy S. Johnson, Chief Executive Officer and Chairman of the Board
Mr. Johnson is set to become the Chief Executive Officer of Blackstone Mortgage Trust effective November 10, 2025, and also serves as the Chairman of the Board. He is the Global Head of Blackstone Real Estate Debt Strategies (BREDS). Before joining Blackstone in 2011, Mr. Johnson co-founded BroadPeak Funding, a boutique commercial real estate finance company. Prior to that, he was a Vice President in the Lehman Brothers Global Commercial Real Estate Group from 2002 to 2008.
Anthony F. Marone, Jr., Chief Financial Officer, Managing Director, Treasurer and Assistant Secretary
Mr. Marone serves as the Chief Financial Officer for Blackstone Mortgage Trust and is also a Managing Director and Chief Financial Officer of Blackstone Real Estate Debt Strategies. He joined Blackstone in 2012. Previously, Mr. Marone was the Vice President and Controller of Capital Trust, Inc., the predecessor business to BXMT, which was acquired by Blackstone in December 2012. He also worked in the Real Estate Assurance practice of PricewaterhouseCoopers LLP.
F. Austin Peña, President and Director
Mr. Peña will assume the role of President and be elected as a Director of Blackstone Mortgage Trust effective November 10, 2025. He currently serves as the Executive Vice President, Investments, and a Managing Director of Blackstone Real Estate Debt Strategies. Since joining Blackstone in 2013, Mr. Peña has been responsible for BXMT's investment strategy, loan sourcing, and has led over $11 billion in real estate credit investments.
Marcin Urbaszek, Deputy Chief Financial Officer and Principal Accounting Officer
Mr. Urbaszek is the Deputy Chief Financial Officer and Principal Accounting Officer for Blackstone Mortgage Trust and a Managing Director in Blackstone Real Estate Debt Strategies. Before joining Blackstone in 2024, he held the positions of Chief Financial Officer, Treasurer, and Head of Investor Relations at Granite Point Mortgage Trust Inc. (NYSE: GPMT) since its inception in 2017. He brings over 20 years of experience in corporate finance and strategic advisory.
Scott Mathias, Chief Compliance Officer and Secretary
Mr. Mathias serves as the Chief Compliance Officer and Secretary of Blackstone Mortgage Trust. He is also a Managing Director and Co-Chief Compliance Officer of Blackstone Real Estate and Chief Compliance Officer of BXMT Advisors L.L.C. Mr. Mathias joined Blackstone in 2016. Prior to his time at Blackstone, he was an associate in the Private Funds group at Simpson Thacher & Bartlett LLP, where he provided counsel to prominent sponsors of private equity and hedge funds.
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The key risks to Blackstone Mortgage Trust (BXMT) primarily stem from its exposure to the commercial real estate (CRE) market, particularly the office sector, coupled with its highly leveraged business model in a volatile interest rate environment.
- Commercial Real Estate (CRE) Credit Performance and Deteriorating Asset Quality: Blackstone Mortgage Trust faces significant challenges due to ongoing credit quality issues within its commercial real estate loan portfolio, with the U.S. office segment being a major concern. Distress rates in the office sector remain high, impacted by remote work trends and declining property values. As of September 2024, the company saw a significant increase in loans with the weakest internal risk ratings (4 and 5), indicating a high risk of loss, and reported a net loss for the nine months ending September 2024, driven by a substantial increase in its Current Expected Credit Loss (CECL) reserves. This deteriorating asset quality has led to credit rating downgrades for BXMT. While BXMT has reduced its office exposure and diversified into other asset classes like multifamily and industrial, office loans still represent a notable portion of its portfolio.
- High Leverage and Interest Rate Sensitivity: BXMT operates with a high debt-to-asset ratio and leverage, which amplifies its vulnerability to rising interest rates. Although a mortgage REIT with floating-rate loans can benefit from rising rates, the current high-interest-rate environment has also led to increased borrowing costs for BXMT and made it more difficult for its borrowers to refinance their loans, thereby increasing the risk of defaults. As of June 2025, BXMT's effective interest rate on debt had climbed to 6.51%, reflecting tighter capital markets.
- Dividend Sustainability: Directly related to its credit quality issues and high leverage, the sustainability of BXMT's dividend has been a concern. The company's distributable earnings have frequently fallen short of its dividend payouts, with a payout ratio exceeding 200% in some periods, meaning dividends have been funded from liquidity reserves rather than earnings. This situation led to a significant 24% dividend cut in July 2024.
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Blackstone Mortgage Trust (BXMT) operates in the commercial real estate finance sector, specializing in originating and acquiring senior loans collateralized by commercial properties. Its addressable markets for these main products and services are in the U.S., Europe, and Australia.
- For the U.S., the total commercial and multifamily mortgage debt outstanding was approximately $4.79 trillion as of the fourth quarter of 2024.
- For Europe, the estimated total commercial real estate debt market was €1.5 trillion (approximately $1.6 trillion) as of 2022.
- For Australia, the commercial real estate debt held by banks reached a record of $415.7 billion in June 2025.
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Blackstone Mortgage Trust (BXMT) is expected to drive future revenue growth over the next 2-3 years through several key strategies:- Portfolio Turnover and Redeployment into New Credit Opportunities: The company anticipates generating revenue growth by actively managing its loan portfolio, facilitating repayments, and subsequently redeploying that capital into new, high-quality credit opportunities. This strategy was evident in Q1 2025 with $1.6 billion of new originations and $2.2 billion of repayments and resolutions, which fueled portfolio turnover and capital deployment for future earnings. The company also reported a strong investment pipeline in Q3 2025, with $1.7 billion in total originations closed or in closing.
- Resolution of Impaired Loans: A significant driver of future earnings potential is the effective resolution of impaired loans. Management expects that the earnings will continue to benefit from these resolutions, unlocking capital that can then be redeployed. The Q3 2025 earnings call specifically highlighted that capital redeployment and resolutions of impaired loans, including two that closed at quarter-end, are expected to benefit earnings.
- Expansion into Diverse Investment Channels and Geographies: BXMT is diversifying its investment approach by exploring various channels, including originations, portfolio acquisitions, net lease, and bank loan portfolios. The company is also geographically diversified, with over 40% of its investments being international, which helps buffer against domestic market fluctuations and provides a natural hedge to its traditional floating-rate business. This broad approach aims to find compelling relative value and diversify the composition of its earnings.
- Optimization of the Balance Sheet and Capitalization: Strengthening the balance sheet and optimizing capitalization are crucial for unlocking future earnings potential. CEO Katie Keenan has emphasized that scale, insight, capitalization, portfolio quality, and platform are essential drivers of value, particularly during periods of market change.
- Capitalizing on Improving Market Conditions: BXMT is positioned to benefit from a recovery in market conditions, characterized by stable or improving real estate fundamentals, constrained new supply, and increasing liquidity and transaction activity. This environment supports robust repayment levels in their pre-rate hike portfolio and provides a strong pipeline for new investments.
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Share Repurchases
- Blackstone Mortgage Trust (BXMT) has repurchased approximately $140 million of shares since establishing its program in 2024.
- The company repurchased $16 million of common stock in the third quarter of 2025 and an additional $61 million in the fourth quarter of 2025 so far.
- BXMT's Board of Directors approved replenishing its share buyback capacity by $150 million in the third quarter of 2025.
Share Issuance
- As of June 30, 2025, 9,967,334 shares of Class A common stock were available for future issuance.
- An "at the market" stock offering program authorized the potential sale of up to $480.9 million of additional Class A common stock as of June 30, 2025.
- Net proceeds from the issuance of Class A common stock totaled approximately $52.155 million in the first half of 2022.
Outbound Investments
- Blackstone Mortgage Trust expects to close over $7 billion in new investments in 2025, encompassing originations, loan acquisitions, and its net lease strategy.
- In the third quarter of 2025, BXMT closed $1 billion in total investments, including the acquisition of a 50% interest in a $600 million portfolio of granular loans secured by fully occupied net lease retail assets.
- The company has strategically diversified its portfolio by reducing U.S. office exposure to 21% and increasing investments in multifamily, industrial, and self-storage sectors, which now constitute approximately 50% of its portfolio.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.50 |
| Mkt Cap | 1.4 |
| Rev LTM | 415 |
| Op Inc LTM | 69 |
| FCF LTM | 85 |
| FCF 3Y Avg | 123 |
| CFO LTM | 115 |
| CFO 3Y Avg | 170 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -9.0% |
| Rev Chg 3Y Avg | -4.8% |
| Rev Chg Q | -4.2% |
| QoQ Delta Rev Chg LTM | -1.2% |
| Op Mgn LTM | 15.1% |
| Op Mgn 3Y Avg | 11.5% |
| QoQ Delta Op Mgn LTM | -4.8% |
| CFO/Rev LTM | 42.5% |
| CFO/Rev 3Y Avg | 46.9% |
| FCF/Rev LTM | 33.3% |
| FCF/Rev 3Y Avg | 36.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.4 |
| P/S | 5.8 |
| P/EBIT | -5.7 |
| P/E | 14.7 |
| P/CFO | 9.6 |
| Total Yield | 14.8% |
| Dividend Yield | 9.6% |
| FCF Yield 3Y Avg | 8.4% |
| D/E | 3.9 |
| Net D/E | 3.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.2% |
| 3M Rtn | 6.1% |
| 6M Rtn | 2.8% |
| 12M Rtn | 3.4% |
| 3Y Rtn | 18.1% |
| 1M Excs Rtn | -0.1% |
| 3M Excs Rtn | 6.3% |
| 6M Excs Rtn | -3.6% |
| 12M Excs Rtn | -5.6% |
| 3Y Excs Rtn | -47.6% |
Price Behavior
Price Behavior
| Market Price | $19.54 | |
| Market Cap ($ Bil) | 3.4 | |
| First Trading Date | 11/05/1987 | |
| Distance from 52W High | -3.0% | |
| 50 Days | 200 Days | |
| DMA Price | $19.47 | $18.46 |
| DMA Trend | up | up |
| Distance from DMA | 0.4% | 5.8% |
| 3M | 1YR | |
| Volatility | 20.2% | 23.1% |
| Downside Capture | 2.86 | 70.73 |
| Upside Capture | 47.39 | 67.78 |
| Correlation (SPY) | 26.1% | 57.9% |
BXMT Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.37 | 0.31 | 0.29 | 0.47 | 0.71 | 0.96 |
| Up Beta | 0.29 | -0.13 | -0.13 | 0.62 | 0.65 | 0.80 |
| Down Beta | 0.86 | 0.63 | 0.46 | 0.32 | 0.74 | 0.89 |
| Up Capture | 6% | 25% | 50% | 49% | 68% | 100% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 9 | 19 | 29 | 59 | 125 | 367 |
| Down Capture | -9% | 16% | 16% | 49% | 79% | 105% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 11 | 21 | 30 | 62 | 122 | 374 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BXMT | |
|---|---|---|---|---|
| BXMT | 12.1% | 23.4% | 0.42 | - |
| Sector ETF (XLF) | 1.6% | 19.3% | -0.04 | 58.2% |
| Equity (SPY) | 14.0% | 19.4% | 0.55 | 57.9% |
| Gold (GLD) | 74.3% | 25.3% | 2.17 | 0.5% |
| Commodities (DBC) | 7.0% | 16.7% | 0.24 | 22.1% |
| Real Estate (VNQ) | 7.9% | 16.6% | 0.28 | 62.8% |
| Bitcoin (BTCUSD) | -29.8% | 44.9% | -0.65 | 18.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BXMT | |
|---|---|---|---|---|
| BXMT | 2.2% | 27.6% | 0.09 | - |
| Sector ETF (XLF) | 12.4% | 18.7% | 0.54 | 57.4% |
| Equity (SPY) | 13.3% | 17.0% | 0.62 | 56.3% |
| Gold (GLD) | 22.1% | 17.0% | 1.06 | 8.9% |
| Commodities (DBC) | 10.5% | 18.9% | 0.44 | 19.0% |
| Real Estate (VNQ) | 5.2% | 18.8% | 0.18 | 64.2% |
| Bitcoin (BTCUSD) | 8.3% | 57.2% | 0.37 | 20.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BXMT | |
|---|---|---|---|---|
| BXMT | 7.3% | 32.5% | 0.30 | - |
| Sector ETF (XLF) | 13.8% | 22.2% | 0.57 | 56.8% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 53.9% |
| Gold (GLD) | 15.3% | 15.6% | 0.82 | 1.3% |
| Commodities (DBC) | 8.1% | 17.6% | 0.38 | 22.7% |
| Real Estate (VNQ) | 6.4% | 20.7% | 0.27 | 64.3% |
| Bitcoin (BTCUSD) | 67.9% | 66.7% | 1.07 | 13.6% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/11/2026 | 2.0% | ||
| 10/29/2025 | 3.5% | 2.4% | 7.3% |
| 7/30/2025 | -3.8% | -2.5% | 0.3% |
| 4/30/2025 | 0.5% | -1.4% | 0.7% |
| 2/12/2025 | 1.6% | 9.1% | 6.1% |
| 10/23/2024 | 2.6% | -0.5% | -0.3% |
| 7/24/2024 | -11.6% | -8.5% | -9.1% |
| 4/24/2024 | -4.6% | -7.8% | -7.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 14 | 14 |
| # Negative | 9 | 10 | 10 |
| Median Positive | 2.9% | 3.6% | 6.5% |
| Median Negative | -2.0% | -2.0% | -4.6% |
| Max Positive | 11.2% | 9.1% | 27.6% |
| Max Negative | -11.6% | -8.5% | -26.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/12/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/08/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/09/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Pena, Fernando Austin | President | Direct | Sell | 1022026 | 19.24 | 3,131 | 60,234 | 1,512,734 | Form |
| 2 | Urbaszek, Marcin | Deputy Chief Financial Officer | Direct | Sell | 12172025 | 20.29 | 400 | 8,116 | 540,285 | Form |
| 3 | Marone, Anthony F Jr | Chief Financial Officer | Direct | Sell | 12172025 | 20.31 | 1,012 | 20,556 | 1,533,594 | Form |
| 4 | Marone, Anthony F Jr | Chief Financial Officer | Direct | Sell | 12022025 | 19.38 | 506 | 9,804 | 1,202,490 | Form |
| 5 | Marone, Anthony F Jr | Chief Financial Officer | Direct | Sell | 9182025 | 19.48 | 1,006 | 19,600 | 1,219,076 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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