Blackstone Mortgage Trust posts Q2 net loss 

Overview

• US real estate lender posted Q2 net loss attributable to Blackstone Mortgage Trust of $81.2 mln

• GAAP EPS for Q2 was a loss of $0.48, dividend paid was $0.47 per share

• Company says results reflect ongoing portfolio turnover and capital reallocation

Outlook

• Company did not provide specific financial guidance for the current or upcoming periods in its press release

Result Drivers

• PORTFOLIO TURNOVER - Co said results reflect continued efforts to accelerate portfolio turnover and reallocate capital

Company press release: ID:nBwbYP0X3a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for Blackstone Mortgage Trust Inc is $21.00, about 28% above its July 29 closing price of $16.40

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

• July 29 - Claros Mortgage Trust Q2 net loss widens on higher credit loss provisions

• July 28 - TPG RE Finance Trust Q2 adjusted EPS misses analyst estimates

• July 28 - Redwood Trust Q2 net loss narrows sequentially, mortgage banking production doubles y/y

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)