Aug. 1 at 12:24 AM
Blackstone Mortgage Trust shares fell during Friday's session, hitting a new 52-week intraday low of
$14.11, as investors continued to react to the company's disappointing Q2 2026 results and a fresh analyst downgrade. The commercial mortgage REIT reported distributable EPS of
$0.31, well below the
$0.42 consensus estimate, driven by a
$29 million realized loss on a troubled Dallas multifamily loan and a
$134 million increase in CECL credit-loss reserves, resulting in a GAAP net loss of
$0.48 per share.
Adding to the pressure, Keefe, Bruyette & Woods downgraded the stock to Market Perform from Outperform and cut its price target to
$16 from
$20, citing concerns over earnings sustainability and the pace of the company's office loan exit strategy. Management also warned that additional loan impairments, elevated repayments, and ongoing portfolio repositioning could weigh on Q3 results and influence the board's dividend review.
$BXMT