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  "documentTitle": "Blackstone Mortgage Trust, Inc. (BXMT)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Muddy Waters Research",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-12-06 00:00:00",
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  "nDataPoints": 36,
  "notes": "The slide highlights a significant reduction in dividend per share under bear case interest rate assumptions.",
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      "text": "annual dividend per share: $0.38",
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      "text": "Note: 2024 & 2025 is a rough estimate as some 2025 may already be extended at higher rates. An assumed 1.1x DSCR reserves for mandatory capX for tenant rollovers & others",
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      "text": "2024 & 2025 Downside Case Swap Expiration Impact on Dividend Capacity",
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      "text": "Dividend Reduction – Bear Case",
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      "name": "Cost Of Inaction",
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