BXMT
Blackstone Mortgage Trust, Inc.20.17
-0.46-2.23%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms diversification, new fund details
Q&A largely reaffirms prepared remarks on resolutions and diversification, adding color on a $75 million no-fee commitment to a Blackstone core-plus real estate credit fund in US/Canada. Management detailed New York office REO—pre-COVID vintage, well-leased at steep discount—as ripe for upside amid improving fundamentals. Multifamily loans are 100% performing in an undersupplied market. REO exits eyed this year to boost ROE. Bridge lending remains core. Investors will watch monetization pace.
Key Stats
Market Cap
3.46BP/E (TTM)
32.02Basic EPS (TTM)
0.63Dividend Yield
0.09%Recent Filings
8-K
CFO transition announced
Blackstone Mortgage Trust appointed Marcin Urbaszek as CFO, Treasurer, and Assistant Secretary effective February 11, 2026, coinciding with Anthony Marone Jr.'s resignation from those roles to focus on his Global Head duties at Blackstone Real Estate Finance. No disagreements prompted Marone's exit. Urbaszek brings 20+ years in finance. Smooth transition.
8-K
BXMT Q4 results: portfolio up
10-K
FY2025 results
Blackstone Mortgage Trust's FY2025 results showed a $18.2B loan portfolio with net repayments of $452.8M amid $5.7B originations and $6.1B repayments/sales, including $2.3B office loans; GAAP net income was $109.6M ($0.64/share) but Distributable Earnings lost $245.3M ($1.43/share) due to $562.9M CECL charge-offs within reserves, yielding $1.88/share dividends. Q4 momentum featured $1.7B fundings offset by $1.0B repayments, $317.6M Distributable Earnings prior to charge-offs ($0.51/share), and $1.3B owned real estate from five consolidations. Secured debt spread tightened to +1.83% on $10.1B, with $1.0B liquidity and no corporate maturities until 2027; $109M buybacks accreted $0.13/share. REIT status maintained. Office sector deterioration risks quarterly momentum.
10-Q
Q3 FY2025 results
BXMT swung to Q3 net income of $63.4M ($0.37/share) from a $56.4M loss y/y, driven by $987K CECL reserve release (q/q $46.6M swing) and $3.9M unconsolidated entity income. Net interest income edged up 4.3% q/q to $98.9M despite loan principal down $1.1B y/y, while REO revenue fell 13.1% q/q to $33.7M on hospitality seasonality. Cash rose to $378M; $844M secured debt availability. Term debt mix shifted with $453M B-7 at SOFR+2.50% (May 2029) and $1.0B B-6 at SOFR+3.00% (Dec 2030). Office loans carry $505M asset-specific CECL on $1.2B amortized cost. Declared $0.47/share dividend. Competition pressures office valuations.
8-K
Q3 earnings beat dividend
Blackstone Mortgage Trust reported Q3 net income of $63.4M, or $0.37 EPS, with Distributable EPS at $0.24 but $0.48 prior to charge-offs; paid $0.47 dividend. Deployed $1.0B in investments including $0.6B originations, resolved $0.4B impaired loans above carrying value, boosting portfolio performance to 96%. Liquidity hit $1.3B. Momentum builds.
IPO
Sector
Industry
ADAM
Adamas Trust, Inc.
7.30-0.07
ARI
Apollo Commercial Real Estate F
9.92-0.27
CMTG
Claros Mortgage Trust, Inc.
3.39-0.09
FBRT
Franklin BSP Realty Trust, Inc.
10.59-0.09
GPMT
Granite Point Mortgage Trust In
2.54-0.03
KREF
KKR Real Estate Finance Trust I
8.50-0.17
LOAN
Manhattan Bridge Capital, Inc
4.80-0.06
NREF
NexPoint Real Estate Finance, I
14.31-0.22
SUNS
Sunrise Realty Trust, Inc.
10.35+0.17
TRTX
TPG RE Finance Trust, Inc.
9.04-0.13