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Blackstone Mortgage Trust Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Blackstone Mortgage Trust holds $19.6B in total assets. Shareholders' equity is $3.4B against $16.9B in total debt. Cash and equivalents total $549.2M. Based on the Q1 2024 filing.

Total Assets$19.6BTotal Stockholders Equity$3.4BLong Term Debt$13.1BCash And Equivalents$549.2M
Latest FilingQ1 2024
Report Date2024-04-24
Market Cap$3.1B
P/E Ratio29.76
ROE2.92%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued interest$77.9M$65.3M$80.0M$64.9M$58.9M$63.6M
Accounts Payable And Other Accrued Liabilities$13.8M$12.8M$16.8M$11.2M$14.7M$13.5M
Current portion of long-term debt—$3.7B$3.6B$2.6B—$3.8B
Derivative Liabilities - Fair Value$5.2M$68.2M$95.7M$2.6M$26.6M$9.0M
Dividends payable$81.2M$80.6M$80.6M$80.2M$79.1M$79.3M
Lease Liability Payments - 2021—$41.4M$43.3M$61.7M—$75.0M
Net Cash Collateral Posted - Derivative Instruments$4.8M$69.6M$86.4M$0.0$25.3M$7.0M
Other current liabilities$32.0K$20.0K$19.0K$32.0K$32.0K$32.0K

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$5.5B$5.5B$5.5B$5.5B$5.4B$5.4B
Accumulated other comprehensive income (loss)$8.3M$8.6M$9.8M$9.3M$12.1M$7.9M
AOCI - Cash Flow Hedge Adjustment$272.1M$211.6M$68.4M$93.6M$86.6M$111.0M
Common stock1.7M400M400M400M400M400M
Common Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Common Stock Shares Issued172.8M171.6M171.6M170.7M168.3M168.7M
Convertible Preferred Stock Authorized Shares—100M100M100M—100M
Convertible Preferred Stock Issued Shares000000
Convertible Preferred Stock Outstanding Shares000000
Additional paid-in capital$5.5B$5.5B$5.5B$5.5B$5.4B$5.4B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$1.7M$1.7M$1.7M$1.7M$1.7M$1.7M
Noncontrolling interests$6.9M$6.8M$6.8M$6.7M$5.5M$3.1M
Retained earnings-$1.7B-$1.8B-$1.9B-$1.9B-$1.9B-$2.0B
Share Price—$20.00$19.25$18.41—$19.15
Share Repurchase Authorization Limit—$89.2M$89.2M$73.1M$150.0M—
Total liabilities and stockholders' equity$19.8B$20.0B$20.6B$19.7B$20.0B$19.6B
Total stockholders' equity$3.8B$3.7B$3.6B$3.6B$3.5B$3.4B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
AOCI - Cash Flow Hedge Reclassification (Next 12 Months)$272.1M$211.6M$68.4M$93.6M$86.6M$111.0M
Gross Assets/Liabilities$5.2M$68.2M$95.7M$2.6M$26.6M$9.0M
Guarantor Obligations - Maximum Exposure$5.5M$3.5M$3.5M$5.5M$5.5M$5.5M
Indemnification Liability Maximum Exposure$5.5M$3.5M$3.5M$5.5M$5.5M$5.5M
Operating Lease Income - 2023 (Lessor)—$23.2M$24.9M$41.7M—$50.1M
Operating Lease Income - 2024 (Lessor)—$23.2M$24.9M$41.7M—$50.1M
Accounts receivable and other assets$134.0M$11.3M$57.7M$114.2M$56.8M$7.0M
Accrued management and incentive fees payable$18.5M$17.2M$17.0M$16.8M$16.4M$14.8M
Below Market Lease, Amortization Income, after Year Four—$242.0K$301.0K$431.0K—$257.0K
Below Market Lease, Amortization Income, Year One—$282.0K$281.0K$1.1M—$758.0K
Remainder 2022—$285.0K$159.0K$292.0K—$675.0K
Below Market Lease, Amortization Income, Year Four—$138.0K$138.0K$498.0K—$302.0K
Below Market Lease, Amortization Income, Year Three—$174.0K$114.0K$872.0K—$512.0K
Below Market Lease, Amortization Income, Year Two—$254.0K$253.0K$995.0K—$637.0K
Building and building improvements$410.5M$429.2M$431.8M$555.9M$708.1M$714.2M
Building and building improvements—$19.7M$19.7M$137.1M—$7.6M
Cash and cash equivalents, book value$323.5M$668.6M$388.0M$377.9M$452.5M$549.2M
Cash collateral$95.5M—$46.6M$105.2M$55.5M$2.6M
Collateral already posted, aggregate fair value$4.8M$69.6M$86.4M$0.0$25.3M$7.0M
Shares authorized (in shares)—500M500M500M—500M
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$400.0M$400.0M$400.0M$400.0M$400.0M$400.0M
Common stock, shares issued (in shares)$172.8M$171.6M$171.6M$170.7M$168.3M$168.7M
Common Stock, Shares, Outstanding$172.8M$171.6M$171.6M$170.7M$168.3M$168.7M
Common Stock, Shares Outstanding, Including Deferred Stock Units173.2M171.9M171.9M171.1M168.6M169M
Long-term debt, gross—$13.3B$14.0B$13.0B—$13.1B
Debt securities————$0.0$66.1M
Derivative Liability$5.2M$68.2M$95.7M$2.6M$26.6M$9.0M
Number of shares available for future issuance (in shares)—10M10M10M—10M
Common shares reserved for issuance (in shares)—10M10M10M—10M
Equity method investments (Note 11)$4.5M$29.0M$108.1M$182.6M$217.5M$244.4M
Equity Method Investments Fair Value Disclosure$0.0—$55.9M$104.9M$111.0M$101.3M
Number of Assets0.00—224.00686.00711.00768.00
Net loan exposure$17.0B$17.8B$18.4B$16.8B$16.8B$16.4B
Cost-recovery proceeds$106.7M$117.1M$109.2M$69.2M$24.5M$20.3M
Percent of loans not subject to prepayment restrictions90.0%83.0%74.0%69.0%60.0%59.0%
Percent of loans subject to prepayment restrictions10.0%17.0%26.0%31.0%40.0%41.0%
Financing Receivable, Unamortized Loan Cost (Fee) and Purchase Premium (Discount)-$155.6M-$168.1M-$168.2M-$121.6M-$85.6M-$81.5M
Weighted-average risk rating300.0%300.0%310.0%300.0%300.0%300.0%
Guarantor obligations, current carrying value$32.0K$20.0K$19.0K$32.0K$32.0K$32.0K
Value of financial guarantee (up to)$5.5M$3.5M$3.5M$5.5M$5.5M$5.5M
Intangible Real Estate Acquired Through Foreclosure, Accumulated Depreciation$6.0M$14.2M$24.4M$33.4M$44.6M$52.1M
Acquired intangible assets—$14.5M$14.5M$49.2M—$0.0
Intangible real estate assets$83.3M$95.6M$95.6M$130.1M$161.7M$158.3M
Real estate intangible assets, net$77.3M$81.4M$71.1M$96.7M$117.1M$106.2M
Less: accumulated amortization-$1.0K-$104.0K-$233.0K-$317.0K-$570.0K-$844.0K
Intangible real estate liabilities, net$1.4M$1.4M$1.2M$4.2M$3.4M$3.1M
Intangible Real Estate Liabilities Acquired Through Foreclosure, Gross$1.4M$1.5M$1.5M$4.5M$4.0M$4.0M
Land and land improvements—$15.0M$15.0M$221.0M—$22.8M
Land and land improvements$181.1M$200.9M$200.9M$402.2M$461.6M$478.9M
Thereafter—$37.3M$40.4M$72.9M—$130.8M
Remainder of fiscal 2026—$40.8M$30.0M$17.8M—$62.8M
Loan portfolio payments held by servicer$113.2M$1.9M$94.3M$429.7M$27.4M$6.8M
Weighted-average cash coupon (percentage)3.5%3.4%3.3%3.2%3.2%3.2%
Loans Receivable Fair Value Disclosure$18.3B$18.3B$18.9B$17.4B$17.9B$17.3B
Percentage of loans by principal balance, fixed rate——2.0%2.0%3.0%3.0%
Percentage of loans by principal balance, floating rate——98.0%98.0%97.0%97.0%
2028—$4.0B$3.4B$3.5B—$1.7B
2029—$1.4B$1.1B$1.3B—$2.3B
2030—$2.7B$2.4B$2.5B—$3.1B
2027—$3.7B$3.6B$2.6B—$3.8B
Remainder of 2026—$997.6M$703.5M$203.1M—$1.4B
Thereafter—$496.4M$2.8B$2.9B—$759.6M
Management core earnings fee percentage—7.0%7.0%7.0%—7.0%
Management fee payable$18.5M——$16.8M$16.4M$14.8M
Noncontrolling interests in subsidiaries$6.9M$6.8M$6.8M$6.7M$5.5M$3.1M
Off-Balance-Sheet, Credit Loss, Liability$10.4M$10.5M$11.7M$13.7M$11.6M$13.1M
Operating Loss Carryforwards—$159.0M$159.0M$159.0M—$159.0M
Other components—-$4.2M-$4.2M-$1.0M—$10.7M
Other real estate liabilities$72.0M$85.4M$80.8M$114.4M$127.7M$124.8M
Preferred Stock, Shares Authorized—$100.0M$100.0M$100.0M—$100.0M
Preferred Stock, Shares Issued$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Outstanding$0.0$0.0$0.0$0.0$0.0$0.0
Real Estate Acquired Through Foreclosure, Accumulated Depreciation$3.4M$10.4M$17.5M$24.5M$34.7M$44.0M
Acquisition Date Fair Value$591.6M$630.2M$632.8M$958.1M$1.2B$1.2B
Number of REO assets classified as held for sale investment7.008.008.0010.0012.0013.00
Aggregate sales price remaining available—$480.9M$480.9M$480.9M—$480.9M
Debt repayments pending servicer remittance$3.7M$1.3M$48.9M$335.4M$11.7M$2.8M
Number of benefit plans—2.002.002.00—2.00
Share price (in dollars per share)—$20.0$19.3$18.4—$19.2
Share Repurchase Program, Authorized, Amount—$31.6M$31.6M—$150.0M—
Remainder of Fiscal Year 2024—$997.6M$703.5M$203.1M—$1.4B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allowance for credit losses$733.9M$741.5M$740.9M$695.7M$284.4M$291.6M
Gross loans$19.0B$19.0B$19.7B$18.1B$18.1B$17.6B
Equity method investments$4.5M$29.0M$108.1M$182.6M$217.5M$244.4M
Equity Method Investments - Fair Value$0.0—$55.9M$104.9M$111.0M$101.3M
Available-for-sale securities————$0.0$66.1M
Foreclosed Assets$9.3M$15.1M$15.5M$35.9M$42.2M$52.0M
Net Investment in Lease—$192.2M$191.2M$278.7M—$427.3M
Net Operating Loss Carryforwards—$159.0M$159.0M$159.0M—$159.0M
Private debt held-for-investment, at amortized cost, net of valuation allowance – $3 and $4$18.3B$18.3B$19.0B$17.4B$17.8B$17.3B
Other Assets$572.3M$331.9M$507.8M$834.2M$413.3M$420.8M
Operating Lease Income - 2026 (Lessor)—$29.9M$31.6M$50.1M—$65.8M
Operating Lease Income - 2027 (Lessor)—$23.2M$24.9M$41.7M—$50.1M
Operating Lease Income - 2028 (Lessor)—$19.6M$21.0M$34.3M—$42.9M
Other non-current assets$572.3M$192.2M$191.2M$278.7M$413.3M$427.3M
Total assets$19.8B$20.0B$20.6B$19.7B$20.0B$19.6B

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Carrying Amount of Hedged Term Debt$437.8M$445.7M$450.3M$451.2M$450.6M$447.7M
Debt Maturity - 2024—$997.6M$703.5M$203.1M—$1.4B
Debt Maturity - 2027—$1.4B$1.1B$1.3B—$2.3B
Hedged Liability - Fair Value Hedge-$4.4M$3.1M$7.3M$7.8M$6.8M$3.5M
Long-term debt—$13.3B$14.0B$13.0B—$13.1B
Secured Debt, Other————$39.5M$38.8M
Other non-current liabilities$282.8M$341.3M$431.7M$639.4M$386.2M$359.8M
Lease intangible liabilities, net—$1.4M$1.2M$4.2M—$3.1M
Senior unsecured notes, net$771.0M$779.2M$784.1M$785.2M$784.9M$782.2M
Total Carrying Value of Debt—$13.3B$14.0B$13.0B—$13.1B
Total liabilities$16.0B$16.3B$17.0B$16.1B$16.5B$16.2B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash and cash equivalents$323.5M$668.6M$388.0M$377.9M$452.5M$549.2M
Derivative assets$72.5M$5.0M$12.3M$19.5M$10.5M$36.0M
Financing Receivables$19.2B$19.2B$19.9B$18.2B$18.2B$17.6B
Operating Lease Income - 2022 (Lessor)—$41.4M$43.3M$61.7M—$75.0M
Operating Lease Income - 2025 (Lessor)—$19.6M$21.0M$34.3M—$42.9M
Operating Lease Receivables (Current)—$192.2M$191.2M$278.7M—$427.3M
Prepaid expenses and other current assets$1.0M$1.0M$635.0K$126.0K$1.0M$2.6M
Restricted cash$0.0$0.0$0.0$0.0$0.0$0.0