Blackstone Mortgage Trust reported first-quarter 2026 results with a net loss attributable to the company of $6.3 million, or GAAP EPS of $(0.04). The company’s non-GAAP Distributable EPS was $0.21, and Distributable EPS prior to realized gains and losses was $0.49, covering the $0.47 quarterly dividend per share.
The investment portfolio totaled $19.7 billion, with the loan book 98% performing and more than half secured by multifamily and industrial assets. Q1 investments were $0.5 billion, while repayments reached $0.6 billion, including significant office exposure.
Book value per share was $20.20, including $1.80 per share of CECL reserves. The balance sheet showed $1.0 billion of liquidity, a 3.7x debt-to-equity ratio, and no corporate debt maturities until 2027, supported by diversified, mostly non-mark-to-market financing and a new $1.0 billion commercial real estate CLO.
Blackstone Mortgage Trust reported a small net loss for the three months ended March 31, 2026 as credit costs and real estate expenses offset interest income.
Total assets were $19,629,808 thousand, including $17,266,346 thousand of loans receivable, net, and $1,149,085 thousand of owned real estate, net. Cash and cash equivalents were $549,153 thousand.
The loan portfolio comprised 130 loans with $17,639,430 thousand principal and $16,366,484 thousand of net loan exposure, diversified across multifamily, office, industrial, and hospitality assets in the U.S. and internationally. The current expected credit loss reserve on loans rose to $291,590 thousand, driven by new originations and additional asset‑specific reserves, partly offset by charge‑offs tied to a foreclosed hospitality property now recorded as owned real estate.
Owned real estate generated $74,594 thousand of revenue and a $7,381 thousand loss, while operating activities provided $169,727 thousand of cash. The company continued to use securitized and secured debt, asset‑specific debt, term loans, and notes to finance its portfolio.
BLACKSTONE MORTGAGE TRUST, INC. director Henry N. Nassau reported an acquisition of 2,531 shares of Class A Common Stock on a grant/award basis at a reference price of $20.12 per share. These represent Class A Common Stock Units received in lieu of cash dividends and convert into common shares on a one-for-one basis. Following this award, he directly holds 198,882 shares of Class A Common Stock, so the grant is relatively small compared with his overall position.
BLACKSTONE MORTGAGE TRUST, INC. director Leonard W. Cotton reported an acquisition of 1,523 shares of Class A Common Stock on a grant/award basis at $20.12 per share. These represent Class A Common Stock Units received in lieu of cash dividends and convert into common shares on a one-for-one basis.
Following this award and prior dividend-related activity, he holds 90,293 shares directly, including 89 shares previously acquired through participation in a dividend reinvestment plan. The transaction reflects compensation and dividend reinvestment rather than an open-market purchase.
Blackstone Mortgage Trust director Lynne B. Sagalyn received a stock-based dividend award rather than cash. She acquired 3,275 Class A Common Stock units at an implied value of $20.12 per share, bringing her direct holdings to 156,103 shares.
The units reflect dividends on existing Class A Common Stock units, calculated using the company’s $0.47 per share dividend paid on April 15, 2026 and the closing share price that day. This is a routine, compensation-related acquisition rather than an open-market purchase.
BLACKSTONE MORTGAGE TRUST, INC. director Nnenna Lynch acquired 803 shares of Class A Common Stock on April 15, 2026 as a grant in lieu of cash dividends. The award was valued at $20.12 per share and increased her directly held position to 35,208 shares.
The 803 shares represent Class A Common Stock Units tied to dividends on previously owned units, converting to common stock on a one-for-one basis. The number of units was based on a $0.47 per-share dividend and the closing share price on April 15, 2026.
BLACKSTONE MORTGAGE TRUST, INC. president Fernando Austin Pena reported an open-market sale of 1,666 shares of Class A common stock at a weighted average price of $18.8828 per share. The sale was effected under Rule 10b5-1 trading plans adopted on March 5, 2024 and February 28, 2025 to satisfy tax withholding obligations from vesting restricted stock awards. Following this transaction, he directly holds 76,967 shares.
Blackstone Mortgage Trust reported a Form 144 notice for common stock related to equity compensation vesting. The filing lists 1,666 shares of Common Stock tied to the vesting of restricted stock unit awards on 03/30/2026. The filing also shows prior dispositions of 3,131 shares by Austin Pena on 12/31/2025.
The entry notes brokerage details for Merrill Lynch and identifies the shares as granted under the issuer's equity compensation plan.
The Vanguard Group filed Amendment No. 11 on a Schedule 13G/A reporting 0% beneficial ownership of Blackstone Mortgage Trust Inc. common stock. The filing explains an internal realignment on January 12, 2026 that disaggregated holdings across Vanguard subsidiaries, and The Vanguard Group states it no longer is deemed to beneficially own the securities previously reported by those units.
BLACKSTONE MORTGAGE TRUST, INC. Chief Financial Officer Marcin Urbaszek sold 452 shares of Class A common stock at an average price of $19.13 per share on March 17, 2026. The sale was made in the open market under a pre-arranged Rule 10b5-1 trading plan adopted on March 6, 2025 to satisfy tax withholding obligations tied to the vesting of previously granted restricted stock awards. Following this transaction, Urbaszek directly holds 26,176 shares of the company’s common stock.