Blackstone Mortgage Trust, Inc. (NYSE: BXMT) reported a net loss attributable to Blackstone Mortgage Trust for the first quarter of 2024, amounting to $124 million. The first quarter EPS stood at ($0.71), while the distributable EPS and distributable EPS prior to charge-offs were reported at $0.33 and $0.65, respectively. Dividends paid per basic share were $0.62.
Katie Keenan, the Chief Executive Officer, highlighted that BXMT's first-quarter results showcased strong execution on key initiatives, with over $1 billion of repayments and continued progress on loan resolutions and asset management. The company holds $1.7 billion of liquidity and benefits from insights as the largest owner of commercial real estate globally, positioning it well for the current market.
Blackstone Mortgage Trust is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Its investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from its loan portfolio. The portfolio primarily consists of loans secured by high-quality, institutional assets in major markets, sponsored by experienced, well-capitalized real estate investment owners and operators.
Blackstone, the company's external manager, is the world’s largest alternative asset manager with more than $1 trillion in assets under management, including global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds.
For those interested, Blackstone Mortgage Trust will host a conference call to discuss its results, providing an opportunity to gain more insights into the company's performance. Following these announcements, the company's shares moved -5.9%, and are now trading at a price of $18.0. For the full picture, make sure to review Blackstone Mortgage Trust's 8-K report.
