Blackstone Mortgage Trust publishes Q3 2026 earnings call transcript
BXMT•Blackstone Mortgage Trust cut its fourth-quarter 2026 dividend to $0.30 per share from $0.47, citing pressure on future earnings. It reported a quarterly GAAP net loss of $1.95 per share, distributable earnings of $0.38 per share and book value of $17.06 per share, down 12%.
1. Dividend cut and results
Blackstone Mortgage Trust cut its fourth-quarter 2026 dividend to $0.30 per share from $0.47, citing pressure on future earnings. For the quarter, it reported a GAAP net loss of $1.95 per share and distributable earnings of $0.38 per share; book value fell 12% to $17.06 per share, primarily reflecting higher credit-loss reserves.
2. Outlook
Management expects to cover the reduced dividend next quarter and throughout 2027 despite earnings pressure from impaired loans and lower-yielding owned properties.
