Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Q3 2023 Earnings Conference Call October 25, 2023 9:00 AM ET Company Participants Timothy Hayes - VP, Shareholder Relations Katie Keenan - President and CEO Anthony F. Marone, Jr - CFO, Treasurer, and Principal Accounting Officer Conference Call Participants Stephen Laws - Raymond James Steve DeLaney - JMP Securities Sarah Barcomb - BTIG Jade Rahmani - KBW Donald Fandetti - Wells Fargo Richard Shane - J.P. Morgan Kaili Wang - Citigroup Operator Good day, and welco ...

New York, October 25, 2023, NEW YORK -- Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its third quarter 2023 results. Net income attributable to Blackstone Mortgage Trust for the third quarter was $30 million. Third quarter EPS, Distributable EPS, and dividends paid per basic share were $0.17, $0.78, and $0.62, respectively. Quarterly Investor Call Details Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate ...

14. OTHER EXPENSES Our other expenses consist of the management and incentive fees we pay to our Manager and our general and administrative expenses. Management and Incentive Fees Pursuant to a management agreement between our Manager and us, or our Management Agreement, our Manager earns a base management fee in an amount equal to 1.50% per annum multiplied by our outstanding equity balance, as defined in the Management Agreement. In addition, our Manager is entitled to an incentive fee in an amount equal ...

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Q2 2023 Earnings Conference Call July 26, 2023 9:00 AM ET Company Participants Tim Hayes - Vice President, Shareholder Relations Katie Keenan - Chief Executive Officer Tony Marone - Chief Financial Officer Conference Call Participants Douglas Harter - Credit Suisse Steve DeLaney - JMP Securities Sarah Barcomb - BTIG Jade Rahmani - KBW Don Fandetti - Wells Fargo Stephen Laws - Raymond James Operator Good day, and welcome to the Blackstone Mortgage Trust Second Quar ...

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Q1 2023 Earnings Conference Call April 26, 2023 9:00 AM ET Company Participants Tim Hayes - VP, Shareholder Relations Katie Keenan - CEO Tony Marone - CFO Austin Pena - EVP, Investments Conference Call Participants Steve DeLaney - JMP Securities Sarah Barcomb - BTIG Doug Harter - Credit Suisse Stephen Laws - Raymond James Don Fandetti - Wells Fargo Jade Rahmani - KBW Rick Shane - JPMorgan Arren Cyganovich - Citi Operator Good day, and welcome to the Blackstone Mor ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Blackstone Mortgage Trust, Inc. (Exact name of Registrant as specified in its charter) Maryland 94-6181186 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 345 Park Avenue, 24th Floor New York, New York 10154 ( ...

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Q4 2022 Earnings Conference Call February 8, 2023 9:00 AM ET Company Participants Tim Hayes - Vice President, Shareholder Relations Katie Keenan - Chief Executive Officer Tony Marone - Chief Financial Officer Austin Pena - Executive Vice President, Investments Conference Call Participants Doug Harter - Credit Suisse Don Fandetti - Wells Fargo Steve DeLaney - JMP Securities Jade Rahmani - KBW Eric Hagan - BTIG Derek Hewett - Bank of America Stephen Laws - Raymond J ...

Katie Keenan, Chief Executive Officer, said, "BXMT achieved strong 4Q and 2022 results, demonstrating the resilience of our business through a volatile environment. With durable earnings power, substantial liquidity, and a robust balance sheet, we are well positioned to deliver attractive current yield and long-term value to our shareholders." About Blackstone Mortgage Trust Blackstone is the world's largest alternative asset manager. We seek to create positive economic impact and long-term value for our in ...

Financial Performance - For the year ended December 31, 2022, the company reported a net loss of $47.5 million, compared to a net income of $248.6 million for the year ended December 31, 2021[415]. - The company experienced a net decrease in cash and cash equivalents of $249.5 million for the year ended December 31, 2022, compared to a net increase of $263.2 million for the year ended December 31, 2021[148]. - The company reported cash flows provided by operating activities of $396.8 million for the year ended December 31, 2022, compared to $382.5 million for the year ended December 31, 2021[148]. - Cash flows used in investing activities were $(3.25) billion for the year ended December 31, 2022, compared to $(5.63) billion for the year ended December 31, 2021[148]. - The company paid $421.4 million in dividends on its class A common stock during the year ended December 31, 2022[148]. Corporate Financing and Debt - The company’s total corporate financing as of December 31, 2022, was $3.08 billion, an increase from $2.37 billion as of December 31, 2021[420]. - The debt-to-equity ratio increased to 3.8x as of December 31, 2022, compared to 3.2x as of December 31, 2021[432]. - During the year ended December 31, 2022, the company borrowed an additional $825 million under term loan facilities with an interest rate of SOFR plus 3.50%[480]. - The company issued $300 million of 5.50% convertible senior notes due 2027, and raised $70.7 million from the issuance of 2.3 million shares of Class A common stock[480]. - The company received $1.7 billion of net proceeds from secured debt borrowings during the year ended December 31, 2022[148]. Loan Portfolio and Commitments - The company has unfunded commitments of $3.8 billion related to 121 loans receivable as of December 31, 2022[435]. - The total loan exposure as of December 31, 2022, was $18.43 billion, with an all-in yield of +3.58%[4]. - The principal balance of the loan portfolio was $26.81 billion, with a net book value of $24.69 billion and unfunded loan commitments of $4.51 billion[477]. - The loan portfolio's weighted-average origination loan-to-value (LTV) ratio was 63.9% as of December 31, 2022, indicating significant equity value[3]. - Loan fundings for the year ended December 31, 2022, totaled $344.9 million, with additional fundings of $90.5 million during the last quarter[2]. Credit Risk and CECL Reserve - The company recorded a $211.5 million increase in the Current Expected Credit Loss (CECL) reserve for the year ended December 31, 2022, compared to a $39.9 million decrease in the previous year[427]. - The current expected credit loss (CECL) reserve reflects estimates of potential credit losses related to loans and debt securities, utilizing the Weighted Average Remaining Maturity (WARM) method[106]. - The company is exposed to credit risk, with loan performance dependent on sponsors' ability to generate adequate cash flows from properties serving as collateral[90]. - The company assesses the CECL reserve on an individual basis, which requires significant judgments and assumptions that may change over time[108]. - The sensitivity of assumptions related to the CECL reserve may vary from quarter to quarter, reflecting changes in the loan portfolio and market conditions[108]. Market Conditions and Economic Factors - Rising interest rates may adversely affect existing borrowers, impacting the collateral underlying certain loans[439]. - Inflation has reached generational highs, prompting the Federal Reserve to raise interest rates, which may adversely affect existing borrowers and slow corporate profit growth[93]. - The company is required to distribute at least 90% of its net taxable income annually to maintain its REIT status, with potential tax implications for undistributed income[101]. - The company is subject to various risks associated with the commercial real estate market, including occupancy rates and macroeconomic factors[92]. - Financial services regulation has increased significantly, and future changes in legislation or administration could negatively impact the company's financial performance[179]. Investment Strategy and Management - The company focuses on originating or acquiring senior, floating rate mortgage loans secured by first priority mortgages on commercial real estate assets[475]. - The company is committed to managing risk and incorporates ESG factors into its investment process[487]. - The company relies on Blackstone's expertise in navigating market cycles, which informs its credit and underwriting processes[92]. - The company has established long-term relationships with numerous corporations, which may influence investment decisions[126]. - The company is exploring new strategies for market expansion, particularly in diversified locations across the US and Europe[114]. Regulatory and Compliance Risks - The company conducts operations to avoid registration as an investment company, which may limit its ability to pursue certain investment opportunities[169]. - Compliance with laws and regulations may require changes to business practices, potentially impacting operations and financial condition[172]. - The company is subject to significant restrictions on proprietary trading activities due to the "Volcker Rule" provisions of the Dodd-Frank Act, which may lead to increased capital requirements and regulatory scrutiny[176]. - Non-bank companies face varying licensing requirements across U.S. states and foreign jurisdictions, which could incur additional expenses[203]. - The extensive requirements of the Dodd-Frank Act may significantly affect financial markets and the terms of financing from lender counterparties[205].

Blackstone Mortgage Trust Reports Third Quarter 2022 Results New York, October 26, 2022, NEW YORK -- Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its third quarter 2022 results. Net income attributable to Blackstone Mortgage Trust for the third quarter was $103.2 million. Third quarter EPS, Distributable EPS, and dividends paid per basic share were $0.60, $0.71 and $0.62 respectively. Katie Keenan, Chief Executive Officer, said, "BXMT once again delivered remarkable results despite a volatile ...