Blackstone Mortgage Trust

BXMT · NYSE

$10.27+$0.02 (+0.20%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $10.25

BXMT analyst rating

BuyConsensus of 6 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy4
Hold2
Underperform0
Sell0

12-month price target · 9 analysts

Average $19.38 (+88.7% upside)

Low: $16.16
Now: $10.27
High: $24.15

Upgrades and downgrades

The latest rating actions, newest first

BXMT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Keefe, Bruyette & Woods	Oct 9, 2026	Maintains	Market Perform	$16.00 → $13.00	51%
Raymond James	Aug 6, 2026	Downgrade	Outperform → Market Perform	—	—
Wells Fargo	Aug 3, 2026	Maintains	Overweight	$22.00 → $18.00	56%
JP Morgan	Jul 31, 2026	Maintains	Overweight	$19.00 → $18.00	56%
Keefe, Bruyette & Woods	Jul 31, 2026	Downgrade	Outperform → Market Perform	$20.00 → $16.00	51%
JP Morgan	Jul 17, 2026	Maintains	Overweight	$20.00 → $19.00	56%
Keefe, Bruyette & Woods	Jun 26, 2026	Maintains	Outperform	$20.50 → $20.00	51%
UBS	Jun 2, 2026	Upgrade	Neutral → Buy	$20.00 → $21.00	0%
JP Morgan	Apr 30, 2026	Maintains	Overweight	$21.00 → $20.00	56%
JP Morgan	Apr 16, 2026	Upgrade	Neutral → Overweight	$21.00	56%

The case for and against

Updated Jan 19, 2026

Bull case

Blackstone Mortgage Trust Inc. is poised for growth as the company anticipates improving conditions for increased loan originations in the commercial real estate sector. The ongoing demand for transitional and flexible capital, alongside a favorable regulatory environment for specialty finance lenders, is expected to benefit the firm's operations. Additionally, Blackstone Mortgage Trust's strong market position in global commercial real estate provides a competitive edge that is likely to enhance its financial performance in the future.

Bear case

The financial outlook for Blackstone Mortgage Trust is negatively impacted by a 1.8% decline in book value as reported in the second quarter, which brings the forward book value down to 0.9 times. Additionally, earnings per share expectations have been moderated by 5% for 2025-2026 due to delays in originations and repayments, along with increased near-term investment costs. The reliance on interest income from a portfolio primarily consisting of floating rate loans secured by commercial properties exposes Blackstone Mortgage Trust to market volatility, further increasing caution in the commercial mortgage REIT sector.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.