Blackstone Mortgage Trust reports Q3 GAAP net loss of $56M; distributable EPS $0.39

BLACKSTONE MORTGAGE TRUST, INC.

2024-Q3 EPS reported -$1.39

GAAP net loss $56M, EPS $(0.32); Distributable EPS $0.39, prior to charge-offs $0.49.
Book value $22.17/sh includes $5.89/sh CECL reserves; two new office impairments taken.
Q3 loan repayments $1.8B ($3.6B YTD), more than double quarterly average; CEO cites recovery.
Liquidity $1.5B; debt-to-equity 3.8x, declined quarter-over-quarter.
$0.6B non-performing loan resolutions closed or in closing post-quarter end.

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