Dec. 15, 2014, 8:06 AM
Oct. 28, 2014, 8:17 PM
- Q3 core earnings of $24.755M or $0.50 per share vs. $20.502M and $0.43 in Q2. Quarterly dividend is $0.50.
- Book value per share of $25.57 vs. $25.51 last quarter.
- Loan origination portfolio of $3.9B has a weighted-average LTV of 64%. All loans are floating-rate and performing. Eight loans closed during Q3 for $656M. Subsequent to quarter-end, another $145M of loan originations, with $865M currently in the pipeline.
- Portfolio gross ROI of Libor +12.9% up 20 basis points from Q2, with improved financing terms offsetting lower portfolio asset yields.
- Conference call tomorrow at 10 ET
- Full earnings report
- BXMT flat AH
- Previously: Blackstone Mortgage Trust EPS in line
Oct. 28, 2014, 5:07 PM
Sep. 19, 2014, 8:12 AM| 1 Comment
Sep. 18, 2014, 4:17 PM| Comment!
Sep. 16, 2014, 12:27 PM
- Residential mortgage REITs (REM +0.3%) have been under pressure ahead of the FOMC meeting as traders mull the possibility of higher short-term rates in the nearer-than-expected future, and FBR continues to see trading risks thanks a higher chance of something hawkish rather than anything dovish or unchanged coming from the Fed statement (has the FBR team seen the latest from Hilsenrath?).
- For those who want to buy the dip, FBR calls MFA Financial (MFA +1%) a "top choice" thanks to a portfolio comprised 65% of adjustable-rate mortgages.
- Also don't forgot that higher rates alongside an improving economy would be a boost to MFA's high-quality credit book.
- Commercial REITs are a different animal, says FBR, thanks to differences in how they're funded. The group is less susceptible to a rise in short-term rates, and FBR says Blackstone Mortgage Trust (BXMT +0.6%) should actually see improving earnings power alongside higher rates.
- ETFs: MORT, MORL
Sep. 15, 2014, 8:05 AM
Aug. 13, 2014, 4:23 PM
- Working on behalf of the borrower, HFF (NYSE:HF) arranges the $290M construction loan for The Surf Club Four Seasons Private Residences in Surfside, FL. The property will include 151 residential units, 77 hotel rooms, and luxury retail and restaurant space.
- In another deal, HFF arranges the financing for 401 North Michigan Avenue, a 35-story, 58K square foot Class A office tower along Chicago's "Magnificent Mile." The property was built in 1965 and currently 81% leased. The five-year floating-rate loan came through Blackstone Mortgage Trust (NYSE:BXMT), and the money (amount not disclosed) will be used to renovate the property over the next three years.
Jun. 13, 2014, 4:16 PM| Comment!
Apr. 1, 2014, 4:36 PM
Mar. 25, 2014, 4:48 PM| Comment!
Mar. 14, 2014, 7:43 AM| Comment!
Jan. 9, 2014, 8:19 AM
Jan. 8, 2014, 4:21 PM
Dec. 27, 2013, 7:23 AM
- Blackstone Mortgage Trust's (BXMT) price target is lifted to $30 from $28, by FBR's Daniel Altscher following last week's surprise hike in the dividend to $0.45 from $0.40. He also reiterates his Buy rating.
- The dividend hike is "nice to have," says Altscher. "We think this exemplifies BXMT's loan origination growth story and competitive advantage that comes from the bigger Blackstone platform." He thinks there's room for additional increases as the company puts money to work in the U.S. and in emerging opportunities in Europe.
- He's increasing his estimated dividend per share for 2014 to $1.95 from $1.80, and estimates the company will earn an annualized 8%-plus dividend yield on book value for the year.
Dec. 17, 2013, 6:16 AM| Comment!
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