Blackstone Mortgage Trust (NYSE:BXMT) Q2 2025 Earnings Miss Estimates, Dividend Sustainability in Focus

Blackstone Mortgage Trust (NYSE:BXMT) reported second-quarter 2025 earnings that fell short of analyst expectations, contributing to a pre-market decline of approximately 0.4%. The commercial real estate finance company posted distributable earnings per share (EPS) of $0.19, significantly below the consensus estimate of $0.27. Revenue for the quarter came in at $94.8 million, missing the projected $111 million.

Key Financial Highlights vs. Estimates

• Distributable EPS: $0.19 (vs. $0.27 estimated)
• Revenue: $94.8 million (vs. $111 million estimated)
• Net Income: $7.0 million
• Dividends Paid per Share: $0.47

The underperformance in distributable EPS and revenue suggests challenges in loan origination or credit performance, though the company did not provide explicit forward guidance in its press release. The dividend payout of $0.47 per share remains a focal point for income-focused investors, though the gap between distributable EPS and dividends may raise sustainability concerns if earnings do not improve.

Market Reaction & Recent Performance

The immediate pre-market dip reflects investor disappointment, though the stock has shown mixed performance in recent weeks:

• Last Week: -0.3%
• Last Two Weeks: -1.6%
• Last Month: +0.6%

The muted reaction over the past month suggests that some downside may have already been priced in, but the earnings miss could prolong pressure on the stock in the near term.

Press Release Takeaways

• The company canceled its earnings call due to a tragic incident at its headquarters, instead publishing prepared remarks on its website.
• CEO Katie Keenan emphasized the firm’s focus on high-quality, institutionally backed commercial real estate loans.
• No forward guidance was provided, leaving analysts to rely on existing estimates for Q3 and full-year 2025.

Analyst Expectations Moving Forward

For Q3 2025, analysts expect EPS of $0.32 and revenue of $114.9 million. Full-year revenue is projected at $411.6 million, with distributable earnings likely to remain under scrutiny given the Q2 shortfall.

For a deeper dive into Blackstone Mortgage Trust’s earnings and estimates, visit the earnings page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.