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Blackstone Mortgage (BXMT)
NYSE:BXMT
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$1.01Last Year’s EPS
$0.69Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -2.47%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a cautious optimism, with strong repayment activity and new loan originations indicating forward momentum. However, the GAAP net loss and the high level of non-performing loans present significant challenges. The company is in a transition period with expected realized losses, but is positioned well for future growth as the market improves.Company Guidance
In the Blackstone Mortgage Trust (BXMT) Q3 2024 earnings call, the guidance provided highlighted several key metrics underscoring the company's financial performance and strategic outlook. BXMT reported a GAAP net loss of $0.32 per share, with distributable earnings at $0.39 per share and distributable earnings prior to charge-offs at $0.49 per share. The firm paid a dividend of $0.47 per share for the third quarter. The call emphasized BXMT's strong portfolio activity, including $1.8 billion in repayments, marking one of its highest repayment quarters, and nearly $700 million in new originations year-to-date. The new originations had a weighted average origination loan-to-value (LTV) of 60% and a debt yield over 9%, setting up mid-teens returns on investment. BXMT also highlighted a significant $450 million senior loan transaction backed by stabilized self-storage assets, demonstrating a 62% LTV and a debt yield 20% higher than previous iterations. As the company navigates the ongoing credit cycle, it anticipates resolving over half of its $2.3 billion in impaired loans by leveraging increased liquidity and transaction activity in the market. The executives expressed confidence in the firm's strategic positioning to capitalize on the current real estate market recovery and emphasized the potential for enhanced earnings power and dividend coverage moving into 2025.Strong Repayment Activity
Blackstone Mortgage Trust (BXMT) reported $1.8 billion in repayments for Q3, marking the fourth highest quarterly repayment volume ever, and bringing the year-to-date total to $3.6 billion.
High New Loan Origination
BXMT closed or is closing nearly $700 million in new originations year-to-date across favored sectors like multifamily, industrial, self-storage, and resort hotels.
Improved Credit Conditions
All performing loans that reached maturity repaid, satisfied their performance tests, or extended, with $400 million in new equity commitments.
Dividend Coverage
Distributable earnings prior to charge-offs were $0.49 per share, above the third quarter dividend of $0.47 per share.
Expanding Investment Opportunities
BXMT is well-positioned for future growth with a strong pipeline of new investment opportunities and ample liquidity of $1.5 billion.
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BXMT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BXMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $18.61 | $19.10 | +2.63% |
| Jul 24, 2024 | $19.16 | $16.93 | -11.64% |
| Apr 24, 2024 | $18.02 | $17.19 | -4.61% |
| Feb 14, 2024 | $16.54 | $17.54 | +6.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Blackstone Mortgage (BXMT) report earnings?
Blackstone Mortgage (BXMT) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Blackstone Mortgage (BXMT) earnings time?
Blackstone Mortgage (BXMT) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BXMT EPS forecast?
BXMT EPS forecast for the fiscal quarter 2024 (Q4) is -$1.01.
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