Short Seller Block Says He’s Even ‘More Bearish’ on Blackstone Mortgage Trust
- Muddy Waters founder says property woes in the ‘early innings’
- Shares of Blackstone trust slide in wake of Block’s comments
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Short seller Carson Block said his firm has grown “more bearish” on Blackstone Mortgage Trust, citing troubles with multifamily properties.
The Muddy Waters founder expects the publicly traded trust to cut its dividend in the second half of this year, he said Tuesday in an interview with Bloomberg Television. Block said he suspects that the property market’s woes are probably in the “early innings” and that the tumult may spread beyond office buildings.