Blackstone Mortgage: 2Q Earnings Snapshot
NEW YORK (AP) _ Blackstone Mortgage Trust Inc. (BXMT) on Tuesday reported second-quarter earnings of $75.2 million.
The New York-based company said it had profit of 59 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 68 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The real estate finance company posted revenue of $223.4 million in the period. Its adjusted revenue was $106.5 million.
Blackstone Mortgage shares have increased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.78, an increase of roughly 10% in the last 12 months.