“KC,” who publishes as Old Time REITster, sat down with Carson Block of Muddy Waters Capital on Zeroes TV to explain why he’s short Blackstone Mortgage Trust. KC explained how the upcoming audit should cause Blackstone Mortgage Trust to be more sober in its loan accounting and discussed how loan reserves have papered over borrower cash flow problems so far, the incentives that have encouraged some sponsors to contribute more equity in 2023, and other reasons why he’s short the stock in 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BXMT:
- Largest borrow rate increases among liquid names
- Blackstone Mortgage selloff ‘bit of an overreaction,’ says BTIG
- Blackstone Mortgage tells CNBC short report ‘misleading,’ ‘self-interested’
- Muddy’s Block sees Blackstone Mortgage cash flow under ‘significant strain’
- Muddy Waters goes short Blackstone Mortgage on loan book deterioration
