Anthony F. Marone Jr., the Chief Financial Officer of Blackstone Mortgage Trust, Inc. (NYSE:BXMT), has recently sold 482 shares of the company's Class A Common Stock. The transaction, which took place on December 9, 2024, was executed at a price of $19.065 per share, amounting to a total sale value of $9,189. The stock, currently trading at $18.94, is part of a $3.3 billion market cap company that offers a notable 9.9% dividend yield, according to InvestingPro data.
Following this transaction, Marone holds 55,635 shares of Blackstone (NYSE:BX) Mortgage Trust. According to a footnote in the filing, the sale was carried out under a Rule 10b5-1 trading plan, which was established prior to February 27, 2023. This plan was implemented to cover tax withholding obligations related to the vesting of restricted stock awards previously granted to Marone. InvestingPro analysis indicates the stock has shown significant price volatility, with a beta of 1.53, and maintains a 13-year track record of consistent dividend payments. For deeper insights into BXMT's financial health and future prospects, investors can access the comprehensive Pro Research Report, which provides detailed analysis of key metrics and growth indicators.
In other recent news, Blackstone Mortgage Trust reported mixed earnings for the third quarter of 2024, with a GAAP net loss of $0.32 per share but distributable earnings of $0.39 per share and $0.49 per share before charge-offs. Amid a changing interest rate environment, the company managed repayments totaling $1.8 billion and new originations close to $700 million. Blackstone Mortgage Trust also anticipates an increase in quarterly distributable earnings, reflecting confidence in its long-term strategy.
In addition to its earnings report, Blackstone Mortgage Trust recently announced a private offering of $450 million of 7.750% senior secured notes due in 2029. The proceeds from this offering are intended for general corporate purposes, including the reduction of existing secured debt. This offering is available only to qualified institutional buyers in the United States and to certain non-U.S. persons in offshore transactions.
Despite expected short-term earnings pressure due to loan resolutions and impairments, Blackstone Mortgage Trust maintains an optimistic outlook. The company expects to recover over half of the $2.3 billion in impaired loans and is considering share buybacks alongside new loan originations. These recent developments suggest that Blackstone Mortgage Trust continues to strategically navigate the complexities of the current economic landscape.
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