Last $29.15 USD
Change Today +0.03 / 0.10%
Volume 228.2K
BXMT On Other Exchanges
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New York
As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

345 Park Avenue

42nd Floor

New York, NY 10154

United States

Phone: 212-655-0220

Fax:

Blackstone Mortgage Trust, Inc., a real estate investment trust (REIT), operates as a real estate finance company that focuses primarily on originating mortgage loans backed by commercial real estate assets. The company intends to originate, acquire, and manage commercial real estate loans and securities and other commercial real estate-related debt instruments. Target Assets The assets in which the company intends to invest would include various types of commercial real estate loans and other debt-oriented investments, focusing primarily on the lodging, office, retail, industrial, residential, and healthcare real estate sectors in the United States and Europe, such as: Mortgage Loans: The company intends to focus on originating mortgage loans that are backed by commercial real estate assets. These loans are secured by real estate and evidenced by a first priority mortgage. Other Loans and Investments: The company also intends to originate and invest in other commercial real estate loans and other debt-oriented investments consisting of: Subordinate Mortgage Interests: These are interests, often referred to as ‘B Notes’, in a junior portion of the mortgage loan. Subordinate mortgage interests have the same borrower and benefit from the same underlying secured obligation and collateral as the holder of a mortgage loan. Mezzanine Loans: These are loans (including pari passu participations in such loans) made to the owners of a mortgage borrower and secured by a pledge of equity interests in the mortgage borrower. These loans are subordinate to a first mortgage loan but senior to the owners’ equity. Preferred Equity: These are investments subordinate to any junior mezzanine loan, but senior to the owners’ common equity. Preferred equity investments typically pay a dividend, rather than interest payments and often have the right for such dividends to accrue if there is insufficient cash flow to pay. Real Estate Securities: These are interests in real estate which may take the form of commercial mortgage-backed securities or collateralized loan obligations. In each case, these interests are collateralized by pools of real estate debt instruments, often first mortgage loans. The underlying loans are aggregated into a pool and sold as securities to different investors. Note Financing: These are loans secured by other mortgage loans, subordinate mortgage interests, and mezzanine loans. Following a default under a note financing, the lender providing the note financing would succeed to the rights of lender on the underlying loan interests. REIT Tax Status The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Dispositions In 2012, the company completed the disposition of its investment management and special servicing business. Government Regulation The company’s operations in the United States are subject, in certain instances, to supervision and regulation by state and federal governmental authorities and may be subject to various laws and judicial and administrative decisions imposing various requirements and restrictions. The company is also required to comply with certain provisions of the Equal Credit Opportunity Act that are applicable to commercial loans. History The company was founded in 1966. It was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013.

 

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BXMT Competitors

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Company Last Change
American Capital Mortgage Investment Corp $19.59 USD -0.07
Apollo Commercial Real Estate Finance Inc $16.50 USD -0.03
Capstead Mortgage Corp $13.18 USD -0.04
Gramercy Property Trust Inc $6.08 USD -0.06
Invesco Mortgage Capital Inc $17.20 USD -0.04
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Valuation BXMT Industry Range
Price/Earnings 25.4x
Price/Sales 19.7x
Price/Book 1.2x
Price/Cash Flow 45.2x
TEV/Sales NM Not Meaningful
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