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Blackstone Mortgage Trust (BXMT) reported a net loss of $124 million for the first quarter of 2024, with key financial metrics such as EPS, Distributable EPS, and dividends per basic share showing mixed results. The CEO highlighted strong execution on initiatives, $1 billion in repayments, and progress on loan resolutions. The company emphasized its liquidity position of $1.7 billion and expertise in commercial real estate. An investor presentation is available on the company's website, with a conference call scheduled to discuss the results.
Blackstone Mortgage Trust (BXMT) ha registrato una perdita netta di 124 milioni di dollari per il primo trimestre del 2024, presentando risultati variabili per metriche finanziarie chiave come l'EPS, l'EPS distribuibile e i dividendi per azione ordinaria. Il CEO ha sottolineato una solida esecuzione delle iniziative, rimborsi per 1 miliardo di dollari e progressi nella risoluzione dei prestiti. La società ha evidenziato una posizione di liquidità di 1,7 miliardi di dollari e competenze nel settore immobiliare commerciale. Una presentazione per gli investitori è disponibile sul sito web della società, e una conferenza telefonica è prevista per discutere i risultati.
Blackstone Mortgage Trust (BXMT) reportó una pérdida neta de 124 millones de dólares para el primer trimestre de 2024, con resultados mixtos en métricas financieras clave como el EPS, el EPS distribuible y los dividendos por acción básica. El CEO destacó una fuerte ejecución en las iniciativas, 1.000 millones de dólares en reembolsos y avances en la resolución de préstamos. La compañía subrayó su posición de liquidez de 1,7 mil millones de dólares y su pericia en bienes raíces comerciales. Hay una presentación para inversores disponible en el sitio web de la empresa y se ha programado una llamada de conferencia para discutir los resultados.
블랙스톤 모기지 트러스트(BXMT)는 2024년 첫 분기에 1억 2,400만 달러의 순손실을 보고했으며, 주당 수익(EPS), 배분 가능 EPS, 기본 주당 배당금 등 주요 재무 지표에서 혼합된 결과를 보였습니다. CEO는 이니셔티브의 강력한 실행, 10억 달러의 상환금, 대출 해결에 대한 진전을 강조했습니다. 회사는 상업 부동산 분야의 전문성과 17억 달러의 유동성 위치를 강조했습니다. 투자자 프레젠테이션은 회사 웹사이트에서 확인할 수 있으며, 결과를 논의하기 위한 컨퍼런스 콜이 예정되어 있습니다.
Blackstone Mortgage Trust (BXMT) a rapporté une perte nette de 124 millions de dollars pour le premier trimestre de 2024, avec des résultats mitigés pour des indicateurs financiers clés tels que l'EPS, l'EPS distribuable et les dividendes par action ordinaire. Le PDG a mis en avant une exécution efficace des initiatives, 1 milliard de dollars en remboursements et des progrès dans la résolution des prêts. L'entreprise a souligné sa position de liquidité de 1,7 milliard de dollars et son expertise dans l'immobilier commercial. Une présentation pour les investisseurs est disponible sur le site web de l'entreprise, et une conférence téléphonique est prévue pour discuter des résultats.
Blackstone Mortgage Trust (BXMT) meldete für das erste Quartal 2024 einen Nettoverlust von 124 Millionen Dollar, mit gemischten Ergebnissen bei wichtigen Finanzkennzahlen wie EPS, verteilbares EPS und Dividenden pro Stammaktie. Der CEO betonte die starke Umsetzung von Initiativen, eine Milliarde Dollar an Rückzahlungen und Fortschritte bei der Kreditauflösung. Das Unternehmen hob seine Liquiditätsposition von 1,7 Milliarden Dollar und seine Expertise im gewerblichen Immobilienbereich hervor. Eine Investorenpräsentation ist auf der Firmenwebsite verfügbar, und ein Conference Call zur Besprechung der Ergebnisse ist geplant.
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Insights
Blackstone Mortgage Trust's disclosure of a net loss of $124 million for the first quarter of 2024 raises immediate flags regarding the company's performance. However, one must look beyond the headline loss to understand the underlying business dynamics. The fact that Distributable EPS stands at $0.33 and prior to charge-offs, at $0.65, suggests that the net loss may include non-recurring items that are not indicative of the ongoing earnings potential. Dividends of $0.62 per share remain robust, illustrating a continued commitment to shareholder returns despite the reported loss. This discrepancy between net loss and Distributable EPS is worth an investor's scrutiny, as it can provide insights into the company’s operational health and cash-flow stability.
Katie Keenan's statement on Blackstone Mortgage Trust's strategic positioning hints at the company's resilience in the face of market volatility. The $1.7 billion liquidity figure is particularly noteworthy, as liquidity serves as a buffer during economic downturns. The CEO's reference to the firm's relationship with the largest owner of commercial real estate globally suggests a strategic advantage in terms of market insights and potential opportunities for growth. For investors, the key takeaway is the company's proactive management of its loan portfolio, indicated by $1 billion in repayments, which reflects a disciplined approach to risk and asset management. This information could be indicative of the company's long-term potential to navigate the real estate market.
NEW YORK--(BUSINESS WIRE)--
Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today reported its first quarter 2024 results. The net loss attributable to Blackstone Mortgage Trust for the quarter was $124 million. First quarter EPS, Distributable EPS, Distributable EPS prior to charge-offs, and dividends paid per basic share were ($0.71), $0.33, $0.65, and $0.62, respectively.
Katie Keenan, Chief Executive Officer, said, “BXMT’s first quarter results reflect strong execution on key initiatives, with over $1 billion of repayments and continued progress on loan resolutions and asset management. With $1.7 billion of liquidity and the insight from the largest owner of commercial real estate globally, we are well positioned for the current market.”
Blackstone Mortgage Trust issued a full presentation of its first quarter 2024 results, which can be viewed at www.bxmt.com. An updated investor presentation may also be viewed on the website.
Quarterly Investor Call Details
Blackstone Mortgage Trust will host a conference call today at 9:00 a.m. ET to discuss results. To register for the webcast, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1662838&tp_key=6e92f5954b. For those unable to listen to the live broadcast, a recorded replay will be available on the company's website at www.bxmt.com beginning approximately two hours after the event.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from our loan portfolio. Our portfolio is composed primarily of loans secured by high-quality, institutional assets in major markets, sponsored by experienced, well-capitalized real estate investment owners and operators. These senior loans are capitalized by accessing a variety of financing options, depending on our view of the most prudent strategy available for each of our investments. We are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone. Further information is available at www.bxmt.com.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
Forward-Looking Statements and Other Matters
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect BXMT’s current views with respect to, among other things, its operations and financial performance, its business plans and the impact of the current macroeconomic environment, including interest rate changes. You can identify these forward-looking statements by the use of words such as “outlook,” “objective,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. BXMT believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in its periodic filings with the Securities and Exchange Commission (“SEC”) which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the filings. BXMT assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.
We refer to “Distributable EPS” and “Distributable EPS prior to charge-offs,” which are non-GAAP financial measures, in this press release. A reconciliation to net income attributable to Blackstone Mortgage Trust, the most directly comparable GAAP measure, is included in our full detailed presentation of first quarter 2024 results and is available on our website at www.bxmt.com.
