2024-03-10 11:53:59 ET
Summary
- Blackstone Mortgage Trust comfortably covered its dividend pay-out with distributable earnings in 4Q-23.
- BXMT stock is selling at a significant discount to book value, providing a high margin of dividend safety.
- Despite concerns over exposure to the U.S. office category, the trust's 12% yield is expected to remain safe.
Blackstone Mortgage Trust, Inc. ( 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....
Read the full article on Seeking Alpha
For further details see:
Blackstone Mortgage Trust: Is This REIT's 12% Dividend Yield Safe In 2024?