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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Blackstone Mortgage Trust
Blackstone Mortgage Trust (BXMT) investor relations material
Blackstone Mortgage Trust Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 net loss attributable to common shareholders was $327.0M, or $1.95/share; Distributable Earnings (DE) were $0.38/share, or $0.42 before realized gains and losses.
Loan sales and repayments advanced portfolio repositioning, reducing watchlist loans 56% QoQ; the quarterly dividend reset to $0.30/share.
The $17.0B portfolio had no sector above 25%; quarter-end liquidity was $1.3B.
Financial highlights
Q3 total net revenue was $141.9M versus $132.6M a year earlier; nine-month revenue was $459.4M versus $393.1M.
GAAP results included a $264.8M CECL reserve increase, $36.4M of owned-real-estate impairment and a $63.9M held-for-sale loan valuation adjustment.
DE was $64.1M, or $0.38/share; excluding realized gains and losses, DE was $71.2M, or $0.42/share.
Q3 owned-real-estate revenue was $77.5M versus $33.7M a year earlier; nine-month revenue was $227.6M versus $109.6M.
Outlook and guidance
Management expects the $0.30/share dividend to be covered in Q4 and full-year 2027 and considers it sustainable across a range of rate and credit environments.
Q4 DE faces headwinds from impaired loans that generated over $8.5M of Q3 interest income and repayments exceeding Q3 investments; hospitality seasonality is a partial offset.
Through October, management was on track to meet or potentially exceed its targeted 40% year-end reduction in office and legacy loans.
Expected loan commitments were $951.0M gross, with $539.6M of committed or identified financing and $411.4M net unfunded; weighted-average future funding period was 1.6 years.
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Latest events from Blackstone Mortgage Trust
- Q2 2026 net loss of $81.2M; portfolio shifts to resilient sectors amid rising credit reserves.BXMT
Q2 2026 - All proposals passed, confirming directors, auditor, and executive compensation.BXMTAGM 2026
- Annual meeting covers director elections, auditor ratification, executive pay, and ESG priorities.BXMTProxy filing
- Virtual annual meeting to vote on directors, auditor, and executive pay, with board support.BXMTProxy filing
- Q1 2026 distributable EPS of $0.49 covered the $0.47 dividend, with strong portfolio performance.BXMTQ1 2026
- Strong 2025 results: 99% performing loans, $110M net income, and a 9.6% dividend yield.BXMTQ4 2025
- Q3 2024 net loss of $56.4M, but strong liquidity and $1.8B repayments support future growth.BXMTQ3 2024
- Q2 net loss of $61.1M, 90% portfolio performing, $150M buyback, and focus on credit risk.BXMTQ2 2024
- Q1 2025: $0.4M net loss, $1.6B new loans, 95% performing, strong liquidity, office risk managed.BXMTQ1 2025
Next Blackstone Mortgage Trust earnings date
Q4 202610 Feb, 2027
Blackstone Mortgage Trust
Next Blackstone Mortgage Trust earnings date
Q4 202610 Feb, 2027
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Frequently asked questions
Blackstone Mortgage Trust Inc is a real estate finance company that originates and manages senior loans secured by commercial real estate assets. It primarily targets floating-rate mortgage loans for institutional-quality properties in major markets. The company is externally managed by a subsidiary of Blackstone. It is headquartered in New York, New York, and its shares are listed on the NYSE.