LIVE
BXMT
Blackstone Mortgage Trust, Inc. · Real Estate
$18.09
+1.69% this month
VERSUS
⟷
COMPARE
O
Realty Income Corporation · Real Estate
$60.24
-2.98% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
BXMT
2
O
1
Comparison scoreboard
BXMT LEADS 2/5AI Score
BXMT N/A
O 39.8
1Y Return
BXMT +3.30%
O ✓+4.71%
Fwd P/E
BXMT ✓9.24
O 36.44
Target Up.
BXMT ✓+15.74%
O +8.66%
Op. Margin
BXMT N/A
O 45.53%
Metrics last refreshed: 6/20/2026
Quick take
BXMT vs O Stock Comparison: AI Score, Valuation, Performance and Upside
Blackstone Mortgage Trust and Realty Income are both REITs with high dividend yields, but with very different risk profiles. BXMT is a mortgage REIT lending to commercial real estate borrowers — earning interest on loans, with credit risk concentrated in office and other stressed sectors. Realty Income is an equity net lease REIT directly owning properties with tenant-paid operating costs — lower credit risk but more modest growth. BXMT offers higher current yield at higher credit risk; Realty Income offers sustainable income with exceptional dividend history.
BXMT vs O is the commercial mortgage REIT earning floating-rate interest on senior commercial real estate loans with Blackstone deal flow advantage but facing office credit stress and dividend cuts (BXMT) versus the premier monthly dividend equity net lease REIT with 30 years of consecutive dividend growth from 15,000+ essential service properties (Realty Income) — commercial mortgage credit risk and high current yield vs net lease equity income durability and dividend aristocrat stability.
Live analysis · updated 6/20/2026
BXMT holds the edge across 2 of 5 key metrics in this comparison. O has delivered stronger 1-year price return (+4.71% vs +3.30%), though BXMT trades at the lower forward P/E (9.24x vs 36.44x). Analyst consensus implies meaningfully more upside for BXMT (+15.74%) than for O (+8.66%).
Normalized 1Y performance
BXMT
O
Recent returns
BXMT
O
Analyst price targets & sentiment
BXMT · 8 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.8/5.0)
Price target range
analyst low$19.50
analyst high$23.00
analyst mean$20.94
current price$18.09
+15.7% upside to analyst mean
O · 21 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.5/5.0)
Price target range
analyst low$58.00
analyst high$75.00
analyst mean$68.15
current price$60.24
+8.7% upside to analyst mean
Who should consider this stock?
BXMT may suit investors who:
- →prefer higher current yield from commercial mortgage REIT with Blackstone-managed deal sourcing advantage and floating rate income rising with interest rates
- →value mortgage REIT income as a potentially temporary opportunity during commercial real estate credit stress — buying impaired mortgage REIT assets at discounted book value
- →want speculative real estate credit recovery exposure betting that BXMT's loan book losses bottom and dividend is eventually restored
- →are comfortable with office loan credit losses continuing, dividend cut risk, book value erosion from credit losses, and higher volatility than equity REITs
O may suit investors who:
- →prefer the premier net lease equity REIT with 30 years of consecutive monthly dividend growth — one of the most proven income investing track records in real estate
- →value Realty Income's essential service tenant mix across 15,000+ properties providing recession-resilient income from convenience, drug, and dollar store tenants
- →want durable monthly dividend income compounding through real estate cycles without the credit risk of mortgage REITs holding commercial real estate loans
- →are comfortable with modest AFFO growth rate (~5% annually), Walgreens and drugstore tenant headwinds, and interest rate sensitivity affecting net lease REIT valuations
Performance & AI score
| Metric | BXMT | O |
|---|---|---|
| AI score | N/A | 39.8 |
| AI rank | N/A | #1127 |
| Latest close | $18.09 | $60.24 |
| 1M return | +1.69% | -2.98% |
| 6M return | -6.48% | +4.29% |
| 1Y return | +3.30% | +4.71% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | BXMT | O |
|---|---|---|
| 1Y ago | $11.43K (+14.3%) started 2025-06-18 | $10.46K (+4.6%) started 2025-06-18 |
| 5Y ago | $18.5K (+85.0%) started 2021-06-18 | $13.81K (+38.1%) started 2021-06-21 |
| 10Y ago | $72.95K (+629.5%) started 2016-06-20 | $24.53K (+145.3%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | BXMT | O |
|---|---|---|
| Market cap | $3.05B | $58.49B |
| Trailing P/E | 30.15 | 51.41 |
| Forward P/E | 9.24 | 36.44 |
| Price/Sales | 6.53 | 9.36 |
| EV/Revenue | 39.52 | 15.26 |
| Analyst target | $20.94 | $68.15 |
| Target upside | +15.74% | +8.66% |
Growth, profitability & risk
| Metric | BXMT | O |
|---|---|---|
| Revenue growth | 34.90% | 12.00% |
| Earnings growth | N/A | 17.90% |
| EPS growth | N/A | +17.90% |
| FCF margin | N/A | +30.32% |
| Operating margin | N/A | 45.53% |
| Profit margin | 22.19% | 18.90% |
| ROIC proxy | 2.92% | 2.83% |
| Return on equity | 2.92% | 2.83% |
| Dividend yield | 10.25% | 5.18% |
| Beta | 0.93 | 0.73 |
| Debt/equity | 465.17 | 73.47 |
| Current ratio | 99.92 | 2.06 |
| Quick ratio | 99.87 | 1.05 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
BXMT max drawdown12.02%
O max drawdown11.86%
BXMT max wkly drop5.96%
O max wkly drop6.27%
5Y risk snapshot
BXMT max drawdown43.02%
O max drawdown34.47%
BXMT max wkly drop13.72%
O max wkly drop8.54%
10Y risk snapshot
BXMT max drawdown67.86%
O max drawdown48.28%
BXMT max wkly drop45.57%
O max wkly drop42.22%
Performance metrics by period
| Period | Metric | BXMT | O |
|---|---|---|---|
| 1Y | Growth | +3.30% | +4.62% |
| CAGR | +3.30% | +4.63% | |
| Sharpe ratio | 0.05 | 0.08 | |
| Max drawdown | 12.02% | 11.86% | |
| Max daily drop | 4.65% | 3.54% | |
| Max wkly drop | 5.96% | 6.27% | |
| 5Y | Growth | -4.35% | +11.17% |
| CAGR | -0.89% | +2.14% | |
| Sharpe ratio | -0.06 | -0.03 | |
| Max drawdown | 43.02% | 34.47% | |
| Max daily drop | 11.61% | 5.67% | |
| Max wkly drop | 13.72% | 8.54% | |
| 10Y | Growth | +63.21% | +47.29% |
| CAGR | +5.02% | +3.95% | |
| Sharpe ratio | 0.17 | 0.11 | |
| Max drawdown | 67.86% | 48.28% | |
| Max daily drop | 23.24% | 24.93% | |
| Max wkly drop | 45.57% | 42.22% |
Business comparison
| Category | BXMT | O |
|---|---|---|
| Company | Blackstone Mortgage Trust, Inc. | Realty Income Corporation |
| Sector | Real Estate | Real Estate |
| Industry | N/A | REIT - Retail |
| Core business | Blackstone Mortgage Trust is a commercial real estate finance company (mortgage REIT) that originates and acquires senior commercial real estate loans — primarily floating-rate first mortgage loans on office, multifamily, hotel, retail, and industrial properties. BXMT is managed by Blackstone, the world's largest alternative asset manager, providing deal flow access to Blackstone's real estate network. As a mortgage REIT, BXMT earns interest income on its loan portfolio rather than owning property directly. Higher interest rates increase BXMT's interest income (floating rate loans) but also stress borrower ability to service debt. | Realty Income is one of the most recognized net lease REITs — nicknamed 'The Monthly Dividend Company' for its 25+ years of consecutive monthly dividends. Realty Income owns 15,000+ single-tenant net lease commercial properties across the US and Europe leased to retailers, convenience stores, drug stores, industrial tenants, and gaming properties on long-term triple-net leases. Tenants pay rent plus property taxes, insurance, and maintenance. Realty Income's tenant base includes Walgreens, Dollar General, 7-Eleven, Dollar Tree, and other essential service retailers. |
| Investor focus | Investors track loan portfolio credit quality, non-accrual and impaired loan percentage, dividend coverage ratio, and credit loss provisions as commercial real estate stress tests the loan portfolio. | Investors track same-store rent growth, occupancy rate (historically 98%+), AFFO per share growth, and dividend growth consistency since 1994 listing. |
BXMT strengths
- →Blackstone affiliation provides superior deal sourcing — BXMT accesses Blackstone's commercial real estate network for loan originations that independent mortgage REITs cannot match
- →Floating rate loan structure benefits from higher interest rates — BXMT's interest income rises with SOFR/base rates, protecting income in rising rate environments
- →Senior position in capital stack — first mortgage loans have the most collateral protection in the commercial real estate capital structure
O strengths
- →Monthly dividend since 1994 listing — Realty Income has paid and grown its dividend every year for 30 years, earning Dividend Aristocrat status and income investor trust
- →Essential service tenant mix provides defensive resilience — convenience stores, drug stores, dollar stores, and grocery-anchored retail have better recession performance than discretionary retail
- →Scale advantage in net lease — with 15,000+ properties, Realty Income can underwrite smaller deals that smaller REITs cannot handle at scale, accessing the full net lease market opportunity
Risks to watch — BXMT
- →Office market stress is hitting BXMT's loan book — commercial real estate office loans are experiencing elevated impairment as office demand permanently shifts post-pandemic
- →BXMT has cut its dividend due to credit stress — dividend reductions signal that loan losses are exceeding income, reducing income investor confidence
- →Mortgage REITs face book value erosion during credit cycles — loan losses reduce BXMT's book value, creating permanent capital impairment risk beyond income risk
Risks to watch — O
- →Drug store tenants (Walgreens, CVS) face secular headwinds from pharmacy benefit manager compression and front-store traffic declines — Realty Income's Walgreens exposure is a watched risk
- →Rising interest rates create headwinds for net lease REITs — higher cap rates compress property values and increase competition from bonds for income-seeking investors
- →Realty Income's AFFO growth rate is modest (~5% annually) — net lease compounding is steady but not high-growth, requiring long holding periods for meaningful appreciation beyond dividend income
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