Blackstone Mortgage Trust Reports Unexpected Q3 Net Loss

Blackstone Mortgage Trust (BXMT) reported a Q3 2026 GAAP net loss of $1.95 per share, with book value per share declining 12% to $17.06 due to impairments and CECL reserves. The company reduced its watch list by 60% and sold $1 billion of loans at 93% of carrying value. Dividend was cut to $0.30 per share for Q4, with management expecting coverage in Q4 2026 and 2027. Portfolio diversification improved, and liquidity remains strong at $1.3 billion.

Blackstone Mortgage Trust (BXMT) reported $2.3B in repayments for Q3, with 90% from legacy loans. Book value fell 12% to $17.06 per share due to CECL reserves and impairments. The company aims to reduce office and legacy loans by 40% by year-end. BXMT's portfolio is $17B, with 50% in post-2023 originations. It closed $500M in new investments and repurchased $36M in stock. Management expects near-term earnings pressure but sees positive hospitality seasonality in Q4.

BXMT reported Q3 2026 earnings, highlighting a $0.30 dividend payable in January 2027. The company discussed interest rate impacts, loan sales, and portfolio adjustments. BXMT sold $1 billion in loans, reducing its watchlist by 60%. Book value declined due to $800 million in loan impairments, primarily in legacy office and hotel loans. The company expects to cover the dividend in Q4 and 2027, despite earnings pressure.

Blackstone Mortgage Trust (BXMT) reported a Q3 2026 net loss of $327.6M, attributed to losses on pre-2023 office loans. CEO Tim Johnson noted progress in reducing exposure to these loans. The loss of $1.95 per share and 42 cents of distributable earnings per share beat expectations. BXMT's portfolio is now valued at $17B, with healthier post-2023 investments increasing by 50%. The company is diversifying into retail, bank loans, and homebuilder financing, closing $500M in new investments.

Blackstone Mortgage Trust (BXMT) reported Q3 2026 earnings of $0.38 per share, beating estimates, while cutting its dividend to $0.30. The company is pivoting away from office loans toward residential, industrial, and net lease properties. BXMT's portfolio now includes 50% post-2023 originations. Shares trade at $10.71, near their 52-week low, as investors weigh earnings against a 12% decline in book value.

Blackstone Mortgage Trust (BXMT) reported a Q3 net loss of $1.95 per share, missing estimates, and shares fell 5.67% in pre-market trading. Total revenue rose to $141.90M, but interest income declined to $280.61M. The company declared a $0.30 quarterly dividend.