08:16 AM EDT, 07/24/2024 (MT Newswires) -- Blackstone Mortgage Trust ( BXMT ) reported a Q2 net loss of $0.35 per diluted share, compared with net income of $0.58 per diluted share a year earlier.

Analysts surveyed by Capital IQ expected $0.42.

The company said its Q2 distributable earnings were $0.49.

Income from loans and other investments for the quarter ended June 30 was $126.8 million, compared with $177.3 million a year earlier.

The real estate finance company also slashed its quarterly dividend to $0.47 per share from $0.62, and authorized a share buyback for up to $150 million of its class A common stock.

Shares of Blackstone Mortgage Trust ( BXMT ) were down 4% in recent premarket activity.

Price: 18.75, Change: -0.88, Percent Change: -4.48