BLACKSTONE MORTGAGE TRUST (BXMT) Company Report

Blackstone Mortgage Trust (BXMT) reported Q3 2025 distributable earnings prior to charge-offs of $0.48 per share, covering its $0.47 per share dividend, and GAAP net income of $0.37 per share.
The company closed $1 billion in total investments and collected $1.6 billion in repayments during Q3 2025, with no new impaired loans and the loan portfolio now 96% performing.
BXMT maintained a strong balance sheet with $1.3 billion in liquidity and a debt-to-equity ratio of 3.5x, while repurchasing $16 million of common stock in Q3 2025 and an additional $61 million in Q4 2025 to date.
Katie Keenan's tenure as CEO is concluding, and Tim Johnson has been appointed as the new CEO.

Oct 29, 2025, 1:00 PM

Transcript

Blackstone Mortgage Trust Reports Strong Q3 2025 Earnings and Announces CEO Transition

BXMT

Earnings

Share Buyback

CEO Change

Blackstone Mortgage Trust (BXMT) reported Q3 2025 distributable earnings prior to charge-offs of $0.48 per share, which covered the $0.47 per share dividend, and a GAAP net income of $0.37 per share.
The company's loan portfolio is 96% performing, with no new impaired loans in Q3 2025, and eight loans were upgraded, including six office loans. The impaired loan balance is now 71% below last year's peak.
BXMT closed $1 billion in total investments during Q3 2025, with an additional $1.7 billion in originations closed or in closing post-quarter end, and collected $1.6 billion in repayments.
The balance sheet shows $1.3 billion in liquidity, over $7 billion in available financing capacity, and a debt-to-equity ratio of 3.5 times. The company repurchased $16 million of common stock in Q3 and another $61 million in Q4 to date, with board approval to replenish $150 million buyback capacity.
Katie Keenan's tenure as CEO is concluding, and Tim Johnson has been appointed as the new CEO.

Oct 29, 2025, 1:00 PM

Transcript

Blackstone Mortgage Trust Announces Strong Q3 2025 Results

BXMT

Earnings

Dividends

New Projects/Investments

Blackstone Mortgage Trust (BXMT) reported Q3 2025 GAAP EPS of $0.37 and Distributable EPS prior to charge-offs of $0.48, which covered the $0.47 dividend per share.
The company executed $1.0 billion in total investments during Q3 2025, including $0.6 billion in loan originations and a $0.3 billion share in a bank loan portfolio acquisition.
BXMT maintained $1.3 billion in quarter-end liquidity and enhanced its capital structure by repricing a $0.4 billion Term Loan B, reducing its spread by 100 basis points.
Loan portfolio performance improved to 96% from 94% last quarter, with the impaired loan balance reduced by 71% from its Q3 2024 peak.

Oct 29, 2025, 1:00 PM

Presentation

Blackstone Mortgage Trust Reports Q3 2025 Earnings and CEO Transition

BXMT

Earnings

Dividends

Management Change

Blackstone Mortgage Trust reported distributable earnings prior to charge-offs of $0.48 per share for Q3 2025, which covered its $0.47 per share dividend. GAAP net income was $0.37 per share.
The company's loan portfolio is 96% performing with no new impaired loans in Q3 2025, and its impaired loan balance is 71% below last year's peak. Book value remained largely stable at $20.99 per share.
BXMT closed $1 billion in total investments during Q3 2025 and anticipates over $7 billion in new investments for the full year. The company also repurchased $16 million of common stock in Q3 and an additional $61 million in Q4 to date.
Katie Keenan will be stepping down as CEO, with Tim Johnson appointed as the incoming CEO.

Oct 29, 2025, 1:00 PM

Transcript

Blackstone Mortgage Trust Reports Third-Quarter 2025 Results

BXMT

Earnings

Dividends

New Projects/Investments

Blackstone Mortgage Trust reported net income attributable to Blackstone Mortgage Trust of $63.4 million and GAAP EPS of $0.37 for the third quarter of 2025.
Distributable EPS was $0.24, and Distributable EPS prior to charge-offs was $0.48, which covered the $0.47 dividend per share.
The company made $1.0 billion in total investments in Q3 2025, including $0.6 billion in loan originations, and improved its loan portfolio performance to 96% from 94% last quarter.
BXMT reduced its impaired loan balance by 71% from its Q3 2024 peak and maintained strong liquidity of $1.3 billion as of September 30, 2025.

Oct 29, 2025, 10:49 AM

8-K

Blackstone Mortgage Trust Announces Leadership Appointments

BXMT

Management Change

CEO Change

Board Change

Tim Johnson has been appointed Chief Executive Officer of Blackstone Mortgage Trust, Inc. (BXMT), succeeding Katie Keenan.
Austin Peña has been named President and Director of BXMT.
These leadership changes are effective November 10, 2025.
Former CEO Katie Keenan has been appointed CEO of Blackstone Real Estate Income Trust, Inc. (BREIT) and Global Head of Core+ Real Estate.
BXMT reported $2.6 billion in new investments last quarter and a nearly 20% year-to-date total return.

Sep 19, 2025, 12:40 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for BLACKSTONE MORTGAGE TRUST.

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