Overview

* Blackstone Mortgage Trust ( BXMT ) 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/Mis Actual Consensu

s s

Estimate

Q3 Net $63.40

Income mln

Attribut

able

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 ( BXMT ) 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:

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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.)