Blackstone Mortgage Trust BXMT

REIT - Specialty, Real Estate

$10.60

+0.19%

Market cap: $1.8B
PE: 118×; 10y median 14.0×
Forward PE: n/m; not a meaningful number
Price to FFO: 19.6×; from its filings
Price to sales: n/m; one or more of the four quarters through 2026-06-30 missing
EV/EBIT: n/m; a sliver of operating profit
Revenue, 12 months: n/m; one or more of the four quarters through 2026-06-30 missing
Net margin: n/m; one or more of the four quarters through 2026-06-30 missing

Blackstone Mortgage Trust trades at 19.6× its funds from operations, the earnings measure REITs are valued on.

Charts

Financials

Income statement for BXMT, by quarter
Income statement	Q3 FY23	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
SG&A	$12M−7%	$13.3M−9%	$13.7M+7%	$13.7M+5%	$13.4M+12%	$13.1M−1%	$12.7M−8%	$13.5M−1%	$12.7M−5%	$13.2M+1%	$14M+10%	$14.9M+10%
Interest expense	$354M+75%	$351.2M+30%	$343.7M+8%	$339.4M−2%	$321.7M−9%	$285.1M−19%	$242.2M−30%	$264.7M−22%	$247.1M−23%	$234.9M−18%	$220.7M−9%	$227.2M−14%
Pre-tax income	$32.1M−69%	−$1M−98%	−$122.2M	−$59M	−$55.2M	$36.9M	$367K	$7.9M	$64.9M	$40.2M+9%	−$5.2M	−$78.8M
	$1.6M+34%	$699K−26%	$1M−47%	$1.2M+1%	$613K−61%	−$458K	$718K−28%	$903K−26%	$1.5M+147%	$535K	$1.2M+61%	$2.5M+177%
Net income	$29.5M−71%	−$2.4M−95%	−$123.8M	−$61.1M	−$56.4M	$37.2M	−$357K−100%	$7M	$63.4M	$39.6M+6%	−$6.3M+1664%	−$81.2M
	$0.17−71%	−$0.01−96%	−$0.71	−$0.35	−$0.32	$0.21	$0.00	$0.04	$0.37	$0.24+14%	−$0.04	−$0.48
	172.6M−7%	172.8M+1%	174M−4%	174M−4%	173.6M+1%	173.5M+0%	172M−1%	171.9M−1%	171.8M−1%	168.2M−3%	169.1M−2%	169M−2%

EPS, diluted: 7 periods, Q4 FY10 to Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: 13 periods, Q4 FY10 to Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days. 3 periods, Q4 FY11 to Q4 FY23: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in REIT - Specialty nearest Blackstone Mortgage Trust's size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
BXMTBlackstone Mortgage Trust	$1.8B	118×	14.0×	n/m	n/m	n/m
SMASmartStop Self Storage REIT	$2B	69.9×	202×	6.4×	+21%	9.4%
CBLCBL & Associates Properties	$1.5B	7.2×	13.3×	2.6×	+9%	37.0%
NTSTNETSTREIT	$2.2B	78.9×	154×	9.2×	+27%	9.2%
IVTInvenTrust Properties	$2.3B	150×	35.1×	7.4×	+11%	4.8%
LTCLTC Properties	$2.4B	16.0×	17.7×	6.8×	+60%	38.9%
UMHUMH Properties	$1.3B	129×	133×	4.9×	+8%	11.5%
FCPTFour Corners Property Trust	$2.4B	20.0×	22.7×	7.9×	+10%	38.7%
AATAmerican Assets Trust	$1.3B	73.7×	54.8×	3.0×	−3%	5.4%
ALXAlexanders	$1.3B	7.5×	25.1×	5.9×	−2%	79.1%
AKRAcadia Realty Trust	$2.6B	52.2×	57.6×	n/m	n/m	n/m
Peer median	$2.1B	61.0×	45.0×	6.4×	+10%	11.5%