Blackstone Mortgage Trust (BXMT) is a commercial mortgage trust which originates and acquires loans backed by commercial real estate predominantly in the US. The company's financial performance has been strong in recent years, with potential for higher profitability from higher interest rates. However, the relatively high current valuation pushes us to wait for a more favourable entry price point.
Our favourite name in the commercial mortgage REITs sector remains Apollo Commercial RE Finance (ARI).
Company Overview
BXMT originates and acquires loans backed by commercial real estate. The loan portfolio reached $11.1bn as of Dec-2017