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LOOKING AT BXMT FOR BUY

December 4, 2017

REVIEW THE CORE PORTFOLIO FOR CURRENT HOLDINGS.

We own BXMT in the Core Portfolio………there is yet another positive article in SeekingAlpha.com on the Company and the link is below.    

BXMT has announced a public offering of 10,800,000 shares and so the price has come down.  NOW is the time to BUY or add to your position.  Yield is just under 8%.

A little snippet from the article:

BXMT’s short-term floating rate assets benefit from rising short-term interest rates, as their current yields increase with these rates. REIT investors tend to fear rising rates, particularly investors in residential mortgage REITs, where many of the assets are fixed rate, but the liabilities float – but BXMT is different. Around 92% of loans are floating rate (earnings would benefit from increased short-term rates).

https://seekingalpha.com/article/4129294-little-brother-blackstone-hitting-cylinders

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The Core Portfolio position American Axle Corporate bond has been called.  We have been trying to increase our cash holdings so we don’t mind this call.

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We are looking forward to yet another book about Trump.  When will our fascination with the election end?

 

 

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