Blackstone Mortgage Trust, Inc. · NYSE:BXMT
Blackstone Mortgage Trust — Q1 2025 Earnings Presentation
16 slides from Blackstone Mortgage Trust's earnings presentation, Apr 30, 2025
Slide 1: First Quarter 2025 Results
Blackstone Mortgage Trust, Inc. Blackstone Mortgage Trust, Inc. Blackstone Mortgage Trust, Inc. First Quarter 2025 Results APRIL 30, 2025
Slide 2: BXMT Highlights
Blackstone |Blackstone Mortgage Trust, Inc. BXMT HIGHLIGHTS Note: The information in this presentation is as of March 31, 2025, and all averages are weighted averages, unless otherwise stated. Opinions expressed reflect the current opinions of BXMT as of the date appearing in the materials only and
Slide 3: First Quarter Results
Blackstone |Blackstone Mortgage Trust, Inc. FIRST QUARTER RESULTS (1) See Appendix for definition and reconciliation to GAAP net (loss) income. 2 ▪ Q1 GAAP basic loss per share of $(0.00), Distributable Earnings(1) per share of $0.17, and Distributable EPS prior to charge-offs(1) of $0.42 ▪ Book val
Slide 4: Earnings
Blackstone |Blackstone Mortgage Trust, Inc. EARNINGS 3 ▪ Q1 Distributable Earnings prior to charge-offs(1) of $0.42 per share; earnings power underpinned by continued resolution momentum and strong investment activity ▪ Book value per share supported by Q1 loan resolutions executed above aggregate c
Slide 5: Loan Portfolio Overview
Blackstone |Blackstone Mortgage Trust, Inc. LOAN PORTFOLIO OVERVIEW(f) 4 AU, 6% ES, 4% IE, 6% UK, 17% SE, 2% DEU, 1% TX, 6% NY, 14% NV, 2% MA, 2% IL, 3% GA, 2% FL, 8% CA, 9% VA, 2% AZ, 2% CO, 2% WA, 2% Sunbelt 25% Northeast 17% West 10%Midwest 4% Northwest 3% UK 17% Other Europe 16% Australia 6% Can
Slide 6: Portfolio Activity
Blackstone |Blackstone Mortgage Trust, Inc. PORTFOLIO ACTIVITY 5 ▪ Q1 repayments of $1.8B continue to demonstrate strong liquidity for high-quality collateral assets ▪ Closed $1.6B of new loan originations in Q1, largely backed by multifamily properties and cross-collateralized industrial and self-s
Slide 7: Credit
Blackstone |Blackstone Mortgage Trust, Inc. CREDIT 6 ▪ Resolved $0.4B of impaired loans(c) in Q1, bringing total resolutions since Q3 2024 to $1.5B across 13 transactions; Q1 resolutions executed above aggregate carrying value, supporting book value ▪ Portfolio performance improved to 95% performing
Slide 8: Capitalization
Blackstone |Blackstone Mortgage Trust, Inc. 3.8x 3.5x 3.4x 9/30/2024 12/31/2024 3/31/2025 CAPITALIZATION 7 ▪ Debt-to-equity ratio(d) declined to lowest level in three years, reflecting continued repayment activity and book value support from resolutions; liquidity remained strong at $1.6B ▪ Well-str
Slide 9: Appendix
Blackstone |Blackstone Mortgage Trust, Inc. II. Appendix 8
Slide 10: Appendix: Portfolio Details
Blackstone |Blackstone Mortgage Trust, Inc. APPENDIX 9 Portfolio Details ($ in millions) Property Type Location Origination Date (n) Total Commitment (o) Principal Balance Net Book Value (p) Cash Coupon (q) All-in Yield (q) Maximum Maturity (r) Loan per SF/Unit/Key Origination LTV (g) 1 Mixed-Use Du
Slide 11: Appendix: Consolidated Balance Sheets
Blackstone |Blackstone Mortgage Trust, Inc. APPENDIX 10 Consolidated Balance Sheets ($ in thousands, except per share data) March 31, 2025 December 31, 2024 Assets Cash and cash equivalents $668,563 $323,483 Loans receivable 19,049,712 19,047,518 Current expected credit loss reserve (741,541) (733,9
Slide 12: Appendix: Consolidated Statements of Operations
Blackstone |Blackstone Mortgage Trust, Inc. APPENDIX 11 Consolidated Statements of Operations ($ in thousands, except per share data) nice 2025 2024 Income from loans and other investments Interest and related income $332,057 $486,122 Less: Interest and related expenses 242,233 343,730 Income from l
Slide 13: Appendix: Quarterly Per Share Calculations
Blackstone |Blackstone Mortgage Trust, Inc. APPENDIX 12 Quarterly Per Share Calculations (in thousands, except per share data) Three Months Ended March 31, 2025 Three Months Ended December 31, 2024 Net (loss) income(s) ($357) $37,190 Charge-offs of CECL reserves (t) (41,824) (294,064) Increase in CE
Slide 14: Definitions
Blackstone |Blackstone Mortgage Trust, Inc. DEFINITIONS 13 Distributable Earnings: Blackstone Mortgage Trust, Inc. (“BXMT”) discloses Distributable Earnings in this presentation. Distributable Earnings is a financial measure that is calculated and presented on the basis of methodologies other than i
Slide 15: Endnotes
Blackstone |Blackstone Mortgage Trust, Inc. ENDNOTES 14 a. Transactions not yet closed are subject to conditions, and there can be no assurance such transactions will be completed on their contemplated terms, or at all. b. For illustrative purposes only. Actual results over the life of each investme
Slide 16: Forward-Looking Statements & Important Disclosure Information
Blackstone |Blackstone Mortgage Trust, Inc. FORWARD-LOOKING STATEMENTS & IMPORTANT DISCLOSURE INFORMATION 15 References herein to “Blackstone Mortgage Trust,” “Company,” “we,” “us,” or “our” refer to Blackstone Mortgage Trust, Inc. and its subsidiaries unless the context specifically requires otherw
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