Blackstone Mortgage Trust

Shares of Blackstone Mortgage Trust fell to a 52‑week low of $13.72. Despite the decline, the stock offers a high dividend yield of 13.61% and has paid a dividend for 15 years. For Q2 the company reported distributable earnings of $0.31 per share, missing expectations, while revenue of $158.06 million exceeded forecasts; book value per share fell 4% due to higher CECL reserves and write‑downs. Repayments of $1.2 billion and investments of $1.4 billion were reported. Analysts are divided, with price targets indicating roughly 30% upside, but management warns of near‑term earnings pressure. » More on de.investing.com

Shares of Blackstone Mortgage Trust hit a 52-week low of $13.79, down 26.2% year-over-year. For Q2 the company reported mixed results: distributable earnings of $0.31 per share missed estimates, revenue rose to $158.06 million and beat expectations, and book value fell 4% to $19.31. Raymond James downgraded the stock to “Market Perform” and flagged concerns about portfolio quality; the volume of loans on the watchlist was reduced from $2.5 billion to $2.0 billion. Despite the price drop, the dividend yield is about 13.5% and InvestingPro currently views the stock as undervalued. » More on de.investing.com

Blackstone Mortgage Trust shares fell intraday to a 52-week low of $14.11 and were trading at $14.52 after substantially missing Q2 results. Distributable earnings were $0.31 per share (consensus $0.42), and there was a GAAP loss of $0.48 per share, driven by a $29m realized loss on a Dallas loan and a $134m increase in CECL reserves. Keefe, Bruyette & Woods downgraded the stock from “Outperform” to “Market Perform” and cut the price target to $16.00. Management warnings about further impairments, high paydowns, portfolio rebalancing and a declining book value ($19.31) weigh on the outlook and dividend sustainability; the share-price drop has erased roughly 30% of the 52-week high. » More on de.investing.com