NEW YORK (AP) — NEW YORK (AP) — Blackstone Mortgage Trust Inc. (BXMT) on Wednesday reported a third-quarter loss of $56.4 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 32 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 49 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The real estate finance company posted revenue of $430.1 million in the period. Its adjusted revenue was $108.3 million.
Blackstone Mortgage shares have fallen 13% since the beginning of the year. The stock has declined nearly 6% in the last 12 months.
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