Blackstone Mortgage Trust Reports Third Quarter 2023 Results

Rhea-AI Summary

Blackstone Mortgage Trust reports Q3 2023 results with net income of $30 million. EPS, Distributable EPS, and dividends paid per basic share were $0.17, $0.78, and $0.62 respectively. CEO Katie Keenan expresses confidence in the company's ability to navigate volatility and capitalize on opportunities.

Positive

• Blackstone Mortgage Trust reports net income of $30 million for Q3 2023.
• EPS for Q3 was $0.17, Distributable EPS was $0.78, and dividends paid per basic share were $0.62.
• CEO Katie Keenan expresses confidence in the company's ability to navigate volatility and capitalize on opportunities.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its third quarter 2023 results. Net income attributable to Blackstone Mortgage Trust for the third quarter was $30 million. Third quarter EPS, Distributable EPS, and dividends paid per basic share were $0.17, $0.78, and $0.62, respectively.

Katie Keenan, Chief Executive Officer, said, “BXMT continues to deliver for its shareholders, generating strong earnings amidst a challenging backdrop and supporting our attractive and consistent dividend. We believe the steps we have taken to proactively manage the portfolio and our balance sheet position us well to navigate volatility and capitalize on an opportunistic environment ahead.”

Blackstone Mortgage Trust issued a full presentation of its third quarter 2023 results, which can be viewed at www.bxmt.com.

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=1632098&tp_key=06a6f27034. 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 create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. 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, 2022, 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,” which is a non-GAAP financial measure, 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 third quarter 2023 results and is available on our website at www.bxmt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025010037/en/

Investor Relations

Blackstone

+1 (888) 756-8443

BlackstoneShareholderRelations@Blackstone.com



Public Affairs

Blackstone

+1 (212) 583-5263

PressInquiries@Blackstone.com

Source: Blackstone Mortgage Trust, Inc.

FAQ

What was Blackstone Mortgage Trust's net income for Q3 2023?

Blackstone Mortgage Trust reported net income of $30 million for Q3 2023.

What were the EPS, Distributable EPS, and dividends paid per basic share for Q3?

EPS for Q3 was $0.17, Distributable EPS was $0.78, and dividends paid per basic share were $0.62.

What is CEO Katie Keenan's outlook for the company?

CEO Katie Keenan expresses confidence in the company's ability to navigate volatility and capitalize on opportunities.