Stock BXMT BLACKSTONE MORTGAGE TRUST, INC.
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Financials Blackstone Mortgage Trust, Inc.

Equities

BXMT

US09257W1009

Specialized REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
17.91 USD +1.47% Intraday chart for Blackstone Mortgage Trust, Inc. -3.40% -15.80%
Apr. 25 UBS Adjusts Blackstone Mortgage Trust Price Target to $19 From $21, Maintains Neutral Rating MT
Apr. 25 Wells Fargo Adjusts Price Target on Blackstone Mortgage Trust to $20 From $22, Maintains Overweight Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,998 4,025 5,160 3,618 3,698 3,151 - -
Enterprise Value (EV) 1 17,439 16,587 22,462 23,485 22,634 20,772 21,382 3,151
P/E ratio 15.8 x 28.4 x 11.1 x 14.5 x 14.9 x 20.4 x 8.33 x 7.86 x
Yield 6.66% 9.01% 8.1% 11.7% 11.7% 13.7% 13.1% 13.8%
Capitalization / Revenue 11.8 x 9.31 x 10 x 5.76 x 5.51 x 5.85 x 5.89 x 5.54 x
EV / Revenue 41.1 x 38.4 x 43.7 x 37.4 x 33.7 x 38.6 x 40 x 5.54 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.34 x 1.04 x 1.12 x 0.81 x 0.85 x 0.75 x 0.78 x 0.76 x
Nbr of stocks (in thousands) 134,289 146,198 168,521 170,899 173,837 175,930 - -
Reference price 2 37.22 27.53 30.62 21.17 21.27 17.91 17.91 17.91
Announcement Date 2/11/20 2/10/21 2/9/22 2/8/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 424.2 432.2 514.5 628 670.7 538.5 535 569.2
EBITDA - - - - - - - -
EBIT 1 306.9 308.4 382.8 465.6 500.4 279.1 370.8 -
Operating Margin 72.35% 71.36% 74.41% 74.13% 74.62% 51.83% 69.31% -
Earnings before Tax (EBT) 1 306.9 140.7 422.7 254.1 255.3 123.2 402.2 -
Net income 1 305.6 137.7 419.2 248.6 246.6 152.7 376.1 397.8
Net margin 72.04% 31.86% 81.48% 39.59% 36.76% 28.35% 70.3% 69.89%
EPS 2 2.350 0.9700 2.770 1.460 1.430 0.8780 2.150 2.280
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.480 2.480 2.480 2.480 2.480 2.447 2.347 2.480
Announcement Date 2/11/20 2/10/21 2/9/22 2/8/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 173.9 133.7 147.1 156.2 191.1 174.2 177.3 165.4 153.8 142.4 131.7 132.5 133.8 132.3 135.3
EBITDA - - - - - - - - - - - - - - -
EBIT 1 134.5 97.87 107.6 117.3 142.8 130.3 131.5 124.5 114.2 109.7 90.07 98.36 101.4 97.74 108
Operating Margin 77.33% 73.19% 73.16% 75.13% 74.71% 74.79% 74.15% 75.28% 74.25% 77.07% 68.39% 74.25% 75.76% 73.89% 79.8%
Earnings before Tax (EBT) 1 124.9 100.4 94.61 105.1 -46.05 120.4 103.7 32.13 -1.017 -122.2 71.5 78.5 85 101 102
Net income 1 123.9 99.69 93.25 103.2 -47.54 117.8 101.7 29.52 -2.376 -123.8 70.44 79.91 84.92 92.91 100
Net margin 71.25% 74.55% 63.41% 66.11% -24.88% 67.6% 57.32% 17.85% -1.55% -86.97% 53.49% 60.32% 63.45% 70.24% 73.89%
EPS 2 0.7600 0.5800 0.5400 0.5900 -0.2800 0.6700 0.5800 0.1700 -0.0100 -0.7100 0.4050 0.4583 0.4883 0.5350 0.5800
Dividend per Share 2 0.6200 0.6200 0.6200 0.6200 0.6200 0.6200 0.6200 0.6200 0.6200 - 0.6200 0.6000 0.6000 0.6200 0.6200
Announcement Date 2/9/22 4/27/22 7/27/22 10/26/22 2/8/23 4/26/23 7/26/23 10/25/23 2/14/24 4/24/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 12,441 12,562 17,302 19,867 18,936 17,621 18,231 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.84% 9.2% 9.36% 10.8% 11.8% 6.92% 6.71% 7.75%
ROA (Net income/ Total Assets) 2.26% 2.1% 2% 2.04% 2.13% 1.13% 1.24% -
Assets 1 13,514 6,564 20,954 12,197 11,569 13,476 30,259 -
Book Value Per Share 2 27.80 26.40 27.20 26.30 25.20 23.90 23.00 23.70
Cash Flow per Share 2.340 2.370 2.520 2.330 - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/11/20 2/10/21 2/9/22 2/8/23 2/14/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Blackstone Mortgage Trust, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
17.91 USD
Average target price
19.25 USD
Spread / Average Target
+7.48%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Mortgage REITs

1st Jan change Capi.
BLACKSTONE MORTGAGE TRUST, INC. Stock Blackstone Mortgage Trust, Inc.
-15.80% 3.15B
ANNALY CAPITAL MANAGEMENT, INC. Stock Annaly Capital Management, Inc.
-2.53% 9.45B
AGNC INVESTMENT CORP. Stock AGNC Investment Corp.
-4.89% 6.72B
STARWOOD PROPERTY TRUST, INC. Stock Starwood Property Trust, Inc.
-7.23% 6.12B
RITHM CAPITAL CORP. Stock Rithm Capital Corp.
+4.96% 5.42B
ARBOR REALTY TRUST, INC. Stock Arbor Realty Trust, Inc.
-15.55% 2.43B
APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. Stock Apollo Commercial Real Estate Finance, Inc.
-8.01% 1.53B
READY CAPITAL CORPORATION Stock Ready Capital Corporation
-13.66% 1.53B
LADDER CAPITAL CORP Stock Ladder Capital Corp
-4.43% 1.41B
TWO HARBORS INVESTMENT CORP. Stock Two Harbors Investment Corp.
-10.05% 1.3B
Mortgage REITs
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  4. Financials Blackstone Mortgage Trust, Inc.