Anthony F. Marone Jr., the Chief Financial Officer of Blackstone Mortgage Trust, Inc. (NYSE:BXMT), recently sold shares of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Marone sold 506 shares on December 2, 2024, at an average price of $19.1101 per share, totaling approximately $9,669. The $3.28 billion market cap company currently trades near $18.81, with InvestingPro data showing a notable dividend yield of 9.85% and a 13-year track record of consistent dividend payments. This transaction was conducted under a Rule 10b5-1 trading plan established before February 27, 2023, to cover tax withholding obligations related to the vesting of restricted stock awards. Following the sale, Marone holds 56,117 shares directly. According to InvestingPro analysis, the company maintains a FAIR financial health score, with several additional insights available through the comprehensive Pro Research Report, which provides deep-dive analysis of over 1,400 US stocks.
In other recent news, Blackstone (NYSE:BX) Mortgage Trust has reported mixed Q3 results, citing a GAAP net loss of $0.32 per share while posting distributable earnings (DE) of $0.39 per share and $0.49 per share before charge-offs. Amid a fluctuating interest rate environment, the company managed repayments totaling $1.8 billion and new originations close to $700 million. Despite expected short-term earnings pressure due to loan resolutions and impairments, Blackstone Mortgage Trust maintains an optimistic outlook, expecting to recover over half of the $2.3 billion in impaired loans.
In addition to these financial updates, the company has launched a private offering of $450 million in senior secured notes due 2029. The raised funds are slated 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 some non-U.S. persons in offshore transactions.
These recent developments indicate that Blackstone Mortgage Trust is strategically navigating the complexities of the current economic landscape. The company's actions, including the notes offering and the anticipation of an increase in quarterly DE, reflect confidence in its long-term strategy.
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