Overview
Blackstone Mortgage Trust Q3 net income at $63.4 mln
Company reports Q3 EPS of $0.37 and distributable EPS of $0.24
Company highlights strong earnings power and investment activity
Outlook
Company did not provide specific guidance for future quarters
Result Drivers
INVESTMENT ACTIVITY - Co attributes strong returns to diversified investment opportunities accessed by its global real estate debt professionals
BALANCE SHEET OPTIMIZATION - Co highlights balance sheet optimization as a key driver of Q3 performance
GLOBAL PLATFORM - Co's global platform with over 160 real estate debt professionals drives access to compelling investments
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income Attributable
$63.40 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "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 $20.00, about 9.3% above its October 28 closing price of $18.14
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nBw38hJBNa
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(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.)
