Blackstone Mortgage (BXMT)
NYSE:BXMT
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.43Last Year’s EPS
0.19Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call reflects a generally positive operational and capital markets position: the company demonstrated continued dividend coverage, strong capital markets execution, significant growth in net lease exposure, attractive new-investment returns (900 bps over base rates), robust liquidity ($1B) and a healthy performing loan mix (98% performing). Offsetting these positives are modest GAAP losses driven by a specific hotel foreclosure and realized loss ($46M), a $55M CECL build that reduced book value by 2.7%, two newly impaired loans and some watch-list office exposure, as well as the continued need to resolve owned real estate assets over time. Overall, the company appears to be transitioning assets, redeploying capital into higher-yielding originations and managing balance sheet liquidity effectively, while credit-specific and legacy asset issues remain manageable but notable.Company Guidance
Dividend Coverage and Attractive Yield
Distributable earnings prior to realized gains and losses of $0.49 per share covered the $0.47 per share dividend for the third consecutive quarter; company highlights an approximate current yield of ~9.5% for investors.
Strong Investment Activity and Pipeline
Closed $540 million of new investments in Q1 (including $275 million of loan originations with a weighted-average LTV of 68% and $197 million of net lease acquisitions at BXMT share); gross loan originations exceeded $800 million in the quarter and the forward pipeline exceeds $1 billion (post-quarter closings already materially contributing to Q2).
Portfolio Quality and Repayments
Loan portfolio of $16.4 billion across 130 loans was 98% performing; received over $600 million of repayments in the quarter (more than half from U.S. office); upgraded four loans and the largest watch-list loan was modified post-quarter improving credit profile.
Capital Markets Execution and Liquidity
Ended the quarter with $1.0 billion of liquidity; debt-to-equity decreased to 3.7x from 3.9x (improved leverage); repriced ~$700 million of corporate term loan reducing financing spread by 50 basis points; issued a $1 billion reinvesting CLO and completed inaugural net-lease ABS; total non-mark-to-market borrowings now ~86% of total debt and weighted-average remaining corporate debt term ~4 years with no maturities until 2027.
Net Lease Strategy Rapidly Scaling
Net lease portfolio reached $516 million at share at quarter end, up from $66 million a year ago (an increase of ~682% YoY); portfolio characteristics include ~15+ year average lease term, 2% annual rent escalators and ~3x rent coverage, providing long-duration, contractually increasing cash flows complementary to floating-rate lending.
Strategic New Sector Exposure — Data Centers and Bank Loan Portfolios
Closed first data center loan (stabilized Northern Virginia asset) with a structure generating a 14% all-in mezzanine yield and 4.5 years call protection; completed a GBP 50 million investment in a diversified UK bank loan portfolio (low-leverage, WA LTV <50%, >3,000 properties) adding diversification and duration.
Realized Operational Wins and Asset Progress
Sold one multifamily asset in Texas at carrying value; Mountain View office received local approvals to redevelop into for-sale residential improving value pathway; fully renovated San Francisco Hyatt hotel saw Q1 EBITDA more than double year-over-year (>100% YoY increase).
Strong Relative Returns on New Investments
Reported levered returns of 900 basis points over base rates on investments this quarter, consistent with the past year's activity, indicating attractive risk-adjusted performance on deployed capital.
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
BXMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $20.01 | $19.08 | -4.65% |
Feb 11, 2026 | $19.13 | $19.52 | +2.04% |
Oct 29, 2025 | $17.28 | $17.88 | +3.47% |
Jul 30, 2025 | $17.98 | $17.31 | -3.77% |
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.
FAQ
When does Blackstone Mortgage (BXMT) report earnings?
Blackstone Mortgage (BXMT) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Blackstone Mortgage (BXMT) earnings time?
Blackstone Mortgage (BXMT) earnings time is at Jul 29, 2026, After Close (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 2026 (Q2) is 0.43.