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Blackstone Mortgage Trust (BXMT) investor relations material
Blackstone Mortgage Trust Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 GAAP EPS was $0.04; Distributable EPS was $0.19, and $0.45 prior to charge-offs, reflecting strong capital deployment and loan resolution momentum.
Net income attributable for Q2 2025 was $7.0 million.
Book value per share at quarter-end was $21.04, including $4.39 per share of CECL reserves.
Paid a Q2 dividend of $0.47 per share, representing a 9.7% annualized yield.
Portfolio grew to $18.4B across 144 loans, with 82% of new originations in multifamily or industrial sectors and 68% sourced internationally.
Financial highlights
Originated $2.2B in new loans and collected $1.6B in repayments during Q2.
Acquired $0.4B share of a performing senior loan portfolio at a discount to par.
Resolved $0.2B of impaired assets above carrying value; total resolutions since Q3 2024 reached $1.7B, reducing impaired loan balance by 55%.
CECL reserves stable at $755M, 3.8% of principal balance.
Q2 distributable earnings prior to charge-offs were $0.45 per share, supporting dividend coverage.
Outlook and guidance
Management highlights robust capital deployment and expects continued portfolio turnover into new investments.
Improving capital markets are reducing financing costs for new investments.
Forward-looking statements reflect expectations regarding operations, financial performance, and macroeconomic impacts, including interest rate changes.
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