BXMT

Capital Trust Inc.

Finance/Real Estate


Presented:04/02/2014
Price:$28.37
Cap:$1.34B
Current Price:$18.34
Cap:$3.18B

Presented

Date04/02/2014
Price$28.37
Market Cap$1.34B
Ent ValueN/A
P/E Ratio15.17x
Book Value$25.15
Div Yield7.4%
Shares O/S47.28M
Ave Daily Vol530,000
Short Int3.67%

Current

Price$18.34
Market Cap$3.18B
Blackstone Mortgage Trust, Inc., a real estate finance company, primarily focuses on originating mortgage loans backed by commercial real estate assets. The company operates through Loan Origination and CT Legacy Portfolio segments. It intends to originate, acquire, and manage commercial real estate loans, and securities and other commercial real estate-related debt instruments. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders. The company formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. on May 6, 2013. Blackstone Mortgage Trust, Inc. was founded in 1966 and is headquartered in New York, New York.

Highlights

Blackstone Mortgage Trust (BXMT) is commercial mortgage REIT that came public in May, 2013 (through a secondary at $25.50, raising net proceeds of $634 million). The presenter is long shares and thinks the risk/ reward is favorable at present levels (~$28). The REIT should be able to benefit from a “great secular tailwind,” and the association with Blackstone gives them an advantage in the market (first look at good deals). Overall, he believes shares have 50% upside potential over the next 24 months, and downside risk should be limited to ~10%.

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Idea Discussion

Commentor 1 - 2 weeks ago

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