Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe and Australia.
For those who haven't been following Blackstone's issues with real estate, namely with their real estate private funds, they've had to “limit” redemptions twice now this year. Most recent limit was a few weeks ago which frankly, says a lot about the fund's stability.
The private funds are clearly struggling as rates go up and we still have a few rate hikes to go. I don't think a pause will help much either. Despite BXMT being different, I wouldn't surprised if BXMT is subjected to same risks their private funds are seeing.
I want to say the this stock could be worth $5-10 by the time the fed pauses. However, they crushed they're latest earnings in December and now have earnings coming up April 26.
Where do you see this stock moving as rates go up?
Sources:
https://www.federalreserve.gov/newsevents/testimony/powell20230307a.htm
https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20230322.pdf
https://finance.yahoo.com/news/blackstone-reit-limits-investor-redemptions-151729566.html
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