NEW YORK (AP) — NEW YORK (AP) — Blackstone Mortgage Trust Inc. (BXMT) on Wednesday reported a fourth-quarter loss of $47.5 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 28 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 87 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The real estate finance company posted revenue of $191.1 million in the period.
For the year, the company reported profit of $248.6 million, or $1.46 per share. Revenue was reported as $628.1 million.
Blackstone Mortgage shares have climbed 14% since the beginning of the year. The stock has decreased 22% in the last 12 months.
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