Ross Healy
Blackstone Mortgage Trust
BXMT-N
PAST TOP PICK
Aug 20, 2018
Good manager of less-than-first-quality loans, but they do a good job. Cheap, selling slightly above book value. Real estate should do well going forward. (7.4% dividend yield) (Analysts' price target: $33.60)
It is somewhat influenced by the US housing market. He views it as parking money in a high yielding stock trading just above book value. A solid balance sheet and good upside potential. Yield 7.6%. (Analysts’ price target is $34.00)
He likes the asset management model going forward. They have a great reputation for running their business. It would be highly leveraged to the US market. He would prefer to own the parent company (BX-N), who is less levered to European assets.
(A Top Pick Oct 12/18, Up 16%) Bought it as a placemarker with a decent yield that would hold its value. Still fairly reasonably priced. It did what they wanted it to do, and so they got out for that reason.
(A Top Pick Aug 20/18, Up 15%) He chose this for lower interest rates and was rewarded. It still looks good today. If the Fed cuts rates today, this will continue to benefit. It won't soar from here, but it will be safe.
(A Top Pick Oct 12/18, Up 21%) It's actually a play on higher interest rates as well as lower rates. Where to go for yield when rates move? Go here. BXMT will steadily climb upward.
Likes it for higher dividend portfolios. The mortgage market is being held back by the shortage of houses. A well run company. Has agency mortgages primarily, so relatively safe. A good long term position to have.
Good manager of less-than-first-quality loans, but they do a good job. Cheap, selling slightly above book value. Real estate should do well going forward. (7.4% dividend yield) (Analysts' price target: $33.60)