Blackstone Mortgage Trust, Inc.(BXMT)Earnings, Financials & Key Ratios

BXMT•NYSE•REIT / Real Estate

$17.15

26.8× P/E·Price updated Jul 7, 2026

SectorReal Estate IndustryMortgage REITs Sub-IndustryCommercial mortgage loan REITs

AboutBlackstone Mortgage Trust, Inc., a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013. Blackstone Mortgage Trust, Inc. was founded in 1997 and is headquartered in New York, New York.Show more

Revenue$1.52B-14.0%
FFO$178M+191.6%
FFO/Share1.04+193.2%
FFO Payout180.89%+187.2%
FFO per Share1.04+193.2%
NOI Margin76.86%-17.6%
FFO Margin11.73%+206.5%
ROE3%+160.2%
ROA0.55%+159.1%

BXMT Price & Volume

Blackstone Mortgage Trust, Inc. (BXMT) stock price & volume — 10-year historical chart

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Persistent Credit Impairments Pressure Mortgage REIT Valuation

Investment Thesis • Updated 2026Q1

VerdictNegative: The firm's fundamental stability is undermined by a 10.8% dividend yield that appears unsustainable given the historical difficulty in maintaining dividend coverage from recurring cash flows

Growth:Contracting

Profitability:Strained

Financial:Strained

Cash Flow:Deteriorating

Primary Risk:CRE portfolio credit impairment

Key Thesis Takeaways

Blackstone Mortgage Trust faces a challenging outlook as persistent CRE portfolio credit impairments and significant NOI margin compression from 96.1% in 2024Q1 to 20.4% in 2026Q1 weigh on earnings quality.
While the firm has attempted to navigate a volatile interest rate environment through defensive cash positioning, the erosion of equity value has kept the debt-to-equity ratio elevated at 4.65x.
Investors should remain cautious as the divergence between GAAP net losses and operating cash flows suggests that ongoing credit loss provisions may continue to obscure the firm's true underlying profitability.

Verdict Logic

as seen in the 5.10x payout ratio recorded in 2025Q1.

BXMT Growth Metrics

Blackstone Mortgage Trust, Inc. (BXMT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years13.99%

5 Years14.41%

3 Years4.86%

TTM-6.97%

Profit CAGR

10 Years-5.69%

5 Years-4.46%

3 Years-23.9%

TTM228.56%

EPS CAGR

10 Years-12.42%

5 Years-7.98%

3 Years-24.04%

TTM229.95%

Return on Capital

10 Years4.28%

5 Years6.13%

3 Years7.61%

Last Year11.31%

BXMT Recent Earnings

Blackstone Mortgage Trust, Inc. (BXMT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 11/12 qtrs (92%)●Beat Revenue 9/12 qtrs (75%)

Q2 2026Latest

Apr 29, 2026

Metric

Actual

Est

EPS

$0.49+28.9%

$0.38

Rev

$159M+34.1%

$119M

Q1 2026

Feb 11, 2026

Metric

Actual

Est

EPS

$0.51+131.8%

$0.22

Rev

$84M-33.3%

$126M

Q4 2025

Oct 29, 2025

Metric

Actual

Est

EPS

$0.24+26.3%

$0.19

Rev

$133M+22.6%

$108M

Q3 2025

Jul 30, 2025

Metric

Actual

Est

EPS

$0.19-5.0%

$0.20

Rev

$134M+41.2%

$95M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 29, 2026	$0.49vs $0.38+28.9%	$159Mvs $119M+34.1%
Q1 2026	Feb 11, 2026	$0.51vs $0.22+131.8%	$84Mvs $126M-33.3%
Q4 2025	Oct 29, 2025	$0.24vs $0.19+26.3%	$133Mvs $108M+22.6%
Q3 2025	Jul 30, 2025	$0.19vs $0.20-5.0%	$134Mvs $95M+41.2%

Based on last 12 quarters of dataView full earnings history →

Latest BXMT News

Recent stock market news and headlines for Blackstone Mortgage Trust, Inc. (BXMT)

Business Wire·Jun 15, 2026

Blackstone Mortgage Trust Declares $0.47 Per Share Dividend

NEW YORK--(BUSINESS WIRE)--Blackstone Mortgage Trust, Inc. (NYSE: BXMT) declared a dividend of $0.47 per share of class A common stock with respect to the second quarter of 2026. This dividend is payable on July 15, 2026, to stockholders of record as of the close of business on June 30, 2026. About Blackstone Mortgage Trust Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates, acquires and manages senior loans and other debt or credit-oriented investments coll.

Peers Comparison

Key metrics vs top competitors for Blackstone Mortgage Trust, Inc. (BXMT)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
BXMTBlackstone Mortgage Trust, Inc.Current	$17.15	$2.89B	26.80	-13.96%	7.2%	3%	11.01%
KREFKKR Real Estate Finance Trust Inc.	$7.12	$457.82M	-6.78	-22.72%	-23.56%	-8.4%	—
TRTXTPG RE Finance Trust, Inc.	$8.41	$650.16M	14.75	123.25%	23.2%	5.7%	—
ACREAres Commercial Real Estate Corporation	$4.43	$245.78M	-270.12	-2.79%	-24.91%	-3.88%	—
RCReady Capital Corporation	$1.68	$277.57M	-1.17	1725.96%	-290.69%	-29.57%	—
GPMTGranite Point Mortgage Trust Inc.	$1.44	$69M	-1.24	187.77%	-30.49%	-7.1%	—

Compare BXMT vs Peers

Blackstone Mortgage Trust, Inc. (BXMT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KREF

Most directly comparable listed peer for BXMT.

Scale Benchmark

vs MS

Larger-name benchmark to compare BXMT against a more recognizable public peer.

Peer Set

Compare Top 5

vs KREF, TRTX, ACRE, RC

BXMT SEC Filings & Documents

Blackstone Mortgage Trust, Inc. (BXMT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 29, 2026·SEC

Material company update

Feb 11, 2026·SEC

Material company update

Feb 11, 2026·SEC

10-K Annual Reports

FY 2026

Feb 11, 2026·SEC

FY 2025

Feb 12, 2025·SEC

FY 2024

Feb 14, 2024·SEC

10-Q Quarterly Reports

FY 2026

Apr 29, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 30, 2025·SEC

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BXMT Frequently Asked Questions

Blackstone Mortgage Trust, Inc. (BXMT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Blackstone Mortgage Trust, Inc.'s revenue?

Blackstone Mortgage Trust, Inc. (BXMT) reported $1.54B in revenue for fiscal year 2025. This represents a 41399% increase from $3.7M in 1996.

How fast is Blackstone Mortgage Trust, Inc. growing?

Blackstone Mortgage Trust, Inc. (BXMT) saw revenue decline by 14.0% over the past year.

Is BXMT profitable?

Yes, Blackstone Mortgage Trust, Inc. (BXMT) is profitable, generating $103.6M in net income for fiscal year 2025 (7.2% net margin).

Dividend & Returns

Does BXMT pay dividends?

Yes, Blackstone Mortgage Trust, Inc. (BXMT) pays a dividend with a yield of 11.01%. This makes it attractive for income-focused investors.

What is BXMT's return on equity?

Blackstone Mortgage Trust, Inc. (BXMT) has a return on equity (ROE) of 3.0%. This is below average, suggesting room for improvement.

Industry Metrics

What is Blackstone Mortgage Trust, Inc.'s FFO?

Blackstone Mortgage Trust, Inc. (BXMT) generated Funds From Operations (FFO) of $216.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is BXMT a good dividend stock?

Blackstone Mortgage Trust, Inc. (BXMT) offers a 11.01% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in BXMT back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

Apr 29, 2026

$0.49vs $0.38+28.9%

$159Mvs $119M+34.1%

Q1 2026

Feb 11, 2026

$0.51vs $0.22+131.8%

$84Mvs $126M-33.3%

Q4 2025

Oct 29, 2025

$0.24vs $0.19+26.3%

$133Mvs $108M+22.6%

Q3 2025

Jul 30, 2025

$0.19vs $0.20-5.0%

$134Mvs $95M+41.2%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

BXMTBlackstone Mortgage Trust, Inc.Current

$17.15

$2.89B

26.80

-13.96%

7.2%

11.01%

KREFKKR Real Estate Finance Trust Inc.

$7.12

$457.82M

-6.78

-22.72%

-23.56%

-8.4%

—

TRTXTPG RE Finance Trust, Inc.

$8.41

$650.16M

14.75

123.25%

23.2%

5.7%

—

ACREAres Commercial Real Estate Corporation

$4.43

$245.78M

-270.12

-2.79%

-24.91%

-3.88%

—

RCReady Capital Corporation

$1.68

$277.57M

-1.17

1725.96%

-290.69%

-29.57%

—

GPMTGranite Point Mortgage Trust Inc.

$1.44

$69M

-1.24

187.77%

-30.49%

-7.1%

—