secwatch.observer — SEC 8-K summary
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Issuer:     BLACKSTONE MORTGAGE TRUST, INC. (BXMT)
CIK:        0001061630
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001061630-23-000072
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blackstone Mortgage Trust Q3 2023: GAAP EPS $0.17, Distributable EPS $0.78, dividend coverage 126%
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- Net income of $30M; GAAP EPS $0.17 vs. $0.60 in Q3 2022; Distributable EPS $0.78, up 10% YoY.
- Declared Q3 dividend of $0.62/share; 126% covered by Distributable Earnings; $27M excess earnings added to book value.
- CECL reserve increased by $96.9M to $477M (39% YTD); 95% of loan portfolio performing (vs. 99% a year ago).
- Book value $25.90/share, down 1% YTD despite higher CECL reserves; $1.8B liquidity; no corporate debt maturities until 2026.
- Collected $1.0B of loan repayments in Q3; weighted-average origination LTV of 64%; 185 senior loans in portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1061630/000106163023000072/0001061630-23-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1061630/000106163023000072/bxmt-20231025.htm
  HTML page:      https://secwatch.observer/filing/0001061630-23-000072

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