Blackstone Mortgage Trust focuses on loan resolutions, debt reduction in Q1 [Seeking Alpha]
Blackstone Mortgage Trust, Inc. (BXMT)
Last blackstone mortgage trust, inc. earnings: 4/29 04:01 pm
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US:NYSE Investor Relations:
ir.blackstonemortgagetrust.com/shareholders/default.aspx
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Source: Seeking Alpha
and a focus on reducing near-term debt, according to its results reported on Wednesday. Q1 distributable EPS of $0.65, prior to charge-offs and excluding realized losses from loan resolutions fell from $0.69 in Q4 2023. It's unclear if the Q1 results are comparable with the average analyst estimate of $0.44. Its book value per share of $23.83 at March 31, 2024, including $4.40 of current expected credit loss reserves, dropped from $25.16 at Dec. 31, 2023. During the quarter, BXMT collected $1.0B of repayments in Q1 (56% U.S. office), which exceeded loan fundings of $353M. CEO Katie Keenan noted the results reflected "strong execution on key initiatives, with over $1B of repayments and continued progress on loan resolutions and asset management. With $1.7B of liquidity and the insight from the largest owner of commercial real estate globally, we are well positioned for the current market." Current expected credit loss reserves of $766M rose from $592M in the previous quarter.
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BXMT
News
- Blackstone Mortgage Trust: Red Flags For This 14% Yielder (Rating Downgrade) [Seeking Alpha]Seeking Alpha
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at Keefe, Bruyette & Woods from $20.50 to $18.00. They now have a "market perform" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at JPMorgan Chase & Co. from $18.50 to $17.50. They now have a "neutral" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at UBS Group AG from $21.00 to $19.00. They now have a "neutral" rating on the stock.MarketBeat
- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) had its price target lowered by analysts at Wells Fargo & Company from $22.00 to $20.00. They now have an "overweight" rating on the stock.MarketBeat
BXMT
Earnings
- 4/24/24 - Miss
BXMT
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- BXMT's page on the SEC website