Blackstone Mortgage Trust posts Q3 loss
BXMT•Blackstone Mortgage Trust reported a third-quarter net loss of $327 million, while distributable EPS was $0.38. The company declared a fourth-quarter dividend of $0.30 per share, payable Jan. 15, 2027.
1. Quarterly results
Blackstone Mortgage Trust reported a third-quarter net loss of $327 million. Distributable EPS was $0.38.
2. Dividend and portfolio
The company declared a fourth-quarter dividend of $0.30 per share, payable Jan. 15, 2027, and said it believes the dividend can be sustained through various rate and credit environments. It said its watchlist is at its lowest level since 2019 and its legacy portfolio is shrinking rapidly.
3. Factors affecting results
The company said higher rates and a prolonged office recovery affected reserves and book value, while it continued to reduce legacy exposure through portfolio turnover.
