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Blackstone Mortgage Trust, Inc., a real estate finance company, originates, acquires, and manages loans and other debt or credit-oriented investments collateralized by or relating to commercial real estate. The company's investment portfolio consists of senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets. It has operations in the United States, the United Kingdom, Ireland, Australia, Spain, Sweden, Canada, rest of Europe, and internationally. It operates as a real estate investment trust for federal income tax purposes. The company was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013. Blackstone Mortgage Trust, Inc. was incorporated in 1998 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $553M | - | $110M | $276M | 3.1% | 12.1% | -153.7% |
| 2024 | $493M | - | $-204M | $366M | -5.4% | -26.5% | -182.8% |
| 2023 | $671M | - | $247M | $459M | 5.6% | 6.8% | -0.8% |
| 2022 | $628M | - | $249M | $397M | 5.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 628.05 | 670.66 | 493.18 | 552.83 |
| Pretax Income | 254.06 | 255.26 | -199.46 | 113.34 |
| Tax Provision | 3 | 5.36 | 2.37 | 3.67 |
| Net Income | 248.64 | 246.56 | -204.09 | 109.57 |
| Net Income Common Stockholders | 248.64 | 246.56 | -204.09 | 109.57 |
| Interest Expense | 710.90 | 1,366.96 | 1,289.97 | 988.95 |
| Interest Income | 1,338.95 | 2,037.62 | 1,769.04 | 1,356.40 |
| Selling General And Administration | 41.27 | 37.87 | 38.75 | 36.17 |
| Normalized Income | 248.64 | 242.04 | -218.62 | -69.42 |
| Market Cap | 3,388.27 | 3,388.27 | 3,388.27 | 3,388.27 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Blackstone Mortgage Trust, Inc.this co. | BXMT | $3.4B | 30.92↓ discount | 0.97 | 3.1% | - |
| The St. Joe Company | JOE | $4.1B | 35.34 | 5.33 | 15.1% | 19.43 |
| Broadstone Net Lease, Inc. | BNL | $3.8B | 39.75 | 1.32 | 3.3% | 17.58 |
| Acadia Realty Trust | AKR | $3.5B | 162.21 | 1.23 | 0.8% | 21.69 |
| Cushman & Wakefield Limited | CWK |
| $3.3B |
| 38.12 |
| 1.72 |
| 4.5% |
| 10.70 |
| LXP Industrial Trust | LXP | $3.2B | 26.43 | 1.54 | 5.8% | 10.46 |
| Apple Hospitality REIT, Inc. | APLE | $3.1B | 17.75 | 0.99 | 5.6% | 10.56 |
| Curbline Properties Corp. | CURB | $3.0B | 74.46 | 1.55 | 2.1% | 24.85 |
| Urban Edge Properties | UE | $2.7B | 32.46 | 2.36 | 7.3% | 14.89 |
| Peer Median | - | 36.73 | 1.55 | 5.0% | 16.23 | |