Blackstone Mortgage Trust, Inc. (NYSE: BXMT) reported its third quarter 2024 results, revealing a net loss of $56 million for the quarter. The third quarter earnings per share (EPS) stood at ($0.32), while distributable EPS and distributable EPS prior to charge-offs were $0.39 and $0.49, respectively. The company paid out dividends of $0.47 per basic share.
Katie Keenan, the Chief Executive Officer, highlighted the strong momentum in BXMT’s business, driven by the emerging real estate market recovery. The company's repayments, resolutions, and redeployment are all accelerating. With $1.5 billion of liquidity and an expanding global pipeline, Blackstone Mortgage Trust is positioned to capitalize on the current attractive investment environment.
The company's 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 Mortgage Trust will host a conference call today at 9:00 a.m. ET to discuss the results.
The full presentation of the third quarter 2024 results is available on the company's website.
About Blackstone Mortgage Trust: Originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from the loan portfolio.
About Blackstone: The world’s largest alternative asset manager. Manages more than $1.1 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. The market has reacted to these announcements by moving the company's shares 2.1% to a price of $19.0. Check out the company's full 8-K submission here.
