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Blackstone Mortgage Trust Inc. (BXMT-1.39%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing reports a GAAP net loss of $204.1 million, or $1.17 per share, and Distributable Earnings were a loss of $5.5 million, or $0.03 per share. The company declared dividends of $2.18 per share during the year.
The company's loan portfolio consists of 130 loans with a total principal balance of $19.2 billion and a net book value of $18.3 billion as of December 31, 2024. The portfolio's weighted-average origination loan-to-value ratio is 62.6%.
During the year, Blackstone Mortgage Trust originated or acquired $431.9 million of loans and received $5.2 billion from loan repayments and sales.
The company maintained substantial liquidity throughout the year, with $1.5 billion in liquidity as of December 31, 2024. The debt-to-equity ratio was 3.5x.
Blackstone Mortgage Trust reported an increase in its current expected credit loss (CECL) reserves by $157.0 million, resulting in a total CECL reserve of $746.5 million as of December 31, 2024.
The company has entered into an Agency Multifamily Lending Partnership with M&T Realty Capital Corporation to earn a portion of fees for multifamily agency loans referred for origination.
The filing outlines the company's financing strategy, which includes secured debt, securitizations, and asset-specific debt, totaling $12.9 billion in outstanding principal balance.
Blackstone Mortgage Trust's operations are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone Inc., and the company operates as a real estate investment trust (REIT) for U.S. federal income tax purposes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Blackstone Mortgage Trust Inc. annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.