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Blackstone Mortgage Trust, Inc. (BXMT) stock

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NYSE: BXMT NYSE Mortgage REITs Next results ~February 10, 2027

Blackstone Mortgage Trust, Inc. is a US-listed company in the mortgage REITs industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling1 purchase and 12 sales by directors and officers, last 12 monthsInsider trades
  • Funds175 adding, 131 cuttingOf 27 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~February 10, 2027 (estimated)

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 56% in the quarter to 2026-09-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 247.5% over the last 12 months.
  • Shrinking share count. Diluted shares fell 2.2% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.5bn.

Things to watch

  • Growth slowing. The growth rate is 119.4 points lower than a quarter earlier.
  • Heavily shorted. 10.6% of the shares available to trade are sold short (3.9 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 28.5% over 90 days.

Latest results: FY2024 Q2

Filed July 30, 2025
Earnings per share
$0.38 against an average estimate of $0.24: beat by 56.5%
Revenue
$254m
Share reaction
+4.2% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 29, 2026; average EPS estimate $0.26

Blackstone Mortgage Trust's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.7%
  • 1 week+6.4%
  • 1 month+3.7%
  • This year-35.3%
  • 1 year-31.4%
  • 5 years-41.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

EPS (TTM, diluted)
$-2.22

Growth

Share count change
−2.2%

Earnings

Last results
October 29, 2026
Next results (est.)
February 10, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Blackstone Mortgage Trust, Inc. valuation models and calculator

No model value for Blackstone Mortgage Trust, Inc. at the moment. Current status: data-quality checks not passed. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Blackstone Mortgage Trust, Inc. as a mortgage reit, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$4.3 ~$1.8–$7.4 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$6.3 ~$5.3–$11 Included
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$33 ~$28–$39 Left out: far from the other models (more than 3x away from their median)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Blackstone Mortgage Trust, Inc. with mortgage REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

55 /100

Moderate moat

How hard Blackstone Mortgage Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Net income has been a median 1.3% of total assets over 10 years.

  • Durability 10 / 20

    Net margin has been a median 73.9%; its worst year was -13.3%.

  • Discipline 7 / 20

    The diluted share count rose 14.1% over five years; stock-based pay has been a median 5.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.14 +180% $321m −13%
Next $1.39 +22% $314m −2%

Next year's EPS estimate has moved −28.5% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −19.6% on 90 days ago. In the last 30 days, 0 analysts raised Blackstone Mortgage Trust, Inc.'s forecast and 5 cut it.

Consensus EPS forecast Blackstone Mortgage Trust, Inc., last 90 days
$1.00 $1.50 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.42 Current fiscal year, 60 days ago: $1.23 Current fiscal year, 30 days ago: $1.27 Current fiscal year, 7 days ago: $1.25 Current fiscal year, Now: $1.14 $1.14 Next fiscal year, 90 days ago: $1.95 Next fiscal year, 60 days ago: $1.55 Next fiscal year, 30 days ago: $1.55 Next fiscal year, 7 days ago: $1.45 Next fiscal year, Now: $1.39 $1.39

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.42$1.95
60 days ago $1.23$1.55
30 days ago $1.27$1.55
7 days ago $1.25$1.45
Now $1.14$1.39

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.24 $0.38 +56.5%
Jun 2026 $0.35 $0.31 −12.2%
Mar 2026 $0.35 $0.21 −40.3%
Dec 2025 $0.27 −$2.07 −866.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026

No numeric guidance in Blackstone Mortgage Trust, Inc.'s latest earnings release (filed October 29, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

9 analysts, Oct 2026
Buy556%
Hold444%
Sell00%

Monthly trend

  1. Oct 20261449
  2. Sep 20261449
  3. Aug 20261449
  4. Jul 20262439

Counts of recommendations published by analysts covering Blackstone Mortgage Trust, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.6%
of tradable shares
Days to cover
3.91
at average volume
Short interest, 1 month
+17%
to October 15, 2026
Held by institutions
72%
of shares
Held by insiders
1.3%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 3 years −27.3%

$15.54 on November 3, 2023 to $11.30

ThenNowEffect
Revenue (last 12 months) $185m $1.2bn +540.9%
Net margin 148.9% 1.3% −99.1%
P/E multiple 9.7x 124.1x +1184.8%
Share count 171m 169m +0.8%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BXMT+20%−24%+14%−8%+21%−35%
Industry peers (median)+26%−21%+17%+4%+6%−21%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BXMT67%58%50%58%58%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BXMT−13%−30%−30%−22%−17%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 68% from February 20, 2020 to March 24, 2020. Getting back needed a 211% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$10.20 – $18.92
From 52-week high
−40.3%
vs 50-day average
−5.2%
vs 200-day average
−28.0%
Volatility (1 year)
25%
Beta vs S&P 500
0.44

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.4%
After a week
4 up, 7 down
typical move ±5.6%
After a month
5 up, 6 down
typical move ±7.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +4.2% −2.1% — —
July 30, 2026 −11.3% +2.4% −15.6% −16.3%
April 29, 2026 −5.1% +1.0% −3.6% −8.6%
February 11, 2026 +0.7% −1.6% −1.7% −5.4%
October 29, 2025 +2.0% −1.1% +1.5% +7.3%
July 30, 2025 −4.6% −0.5% −3.7% +0.3%
April 30, 2025 +0.1% +0.7% −1.1% −0.4%
February 12, 2025 +5.0% +0.7% +8.7% +8.9%
October 23, 2024 +1.7% −0.7% +0.2% +0.9%
July 24, 2024 −11.3% −2.8% −9.1% −10.2%
April 24, 2024 −7.7% −0.4% −7.2% −10.8%
February 14, 2024 +11.6% +1.6% +9.1% +11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Blackstone Mortgage Trust, Inc.
$0 $500M $1B $1.5B FY12 Q2 FY13 Q1 FY13 Q4 FY24 Q2 Revenue (TTM), FY12 Q2: $69.1M Revenue (TTM), FY12 Q3: $50.4M Revenue (TTM), FY12 Q4: $34.9M Revenue (TTM), FY13 Q1: $21.7M Revenue (TTM), FY13 Q2: $20.9M Revenue (TTM), FY13 Q3: $32.8M Revenue (TTM), FY13 Q4: $53.2M Revenue (TTM), FY14 Q1: $85.4M Revenue (TTM), FY14 Q2: $121.8M Revenue (TTM), FY14 Q3: $153.3M Revenue (TTM), FY14 Q4: $184.8M Revenue (TTM), FY24 Q2: $1.2B $1.2B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY12 Q2 $69.1M
FY12 Q3 $50.4M
FY12 Q4 $34.9M
FY13 Q1 $21.7M
FY13 Q2 $20.9M
FY13 Q3 $32.8M
FY13 Q4 $53.2M
FY14 Q1 $85.4M
FY14 Q2 $121.8M
FY14 Q3 $153.3M
FY14 Q4 $184.8M
FY24 Q2 $1.2B
Revenue growth, TTM YoY Blackstone Mortgage Trust, Inc.
-200% 0% 200% 400% 600% FY12 Q1 FY12 Q4 FY13 Q3 FY14 Q4 Revenue growth, TTM YoY, FY12 Q1: 93.0% Revenue growth, TTM YoY, FY12 Q2: 66.8% Revenue growth, TTM YoY, FY12 Q3: 36.8% Revenue growth, TTM YoY, FY12 Q4: -70.2% Revenue growth, TTM YoY, FY13 Q1: -77.2% Revenue growth, TTM YoY, FY13 Q2: -69.7% Revenue growth, TTM YoY, FY13 Q3: -34.8% Revenue growth, TTM YoY, FY13 Q4: 52.2% Revenue growth, TTM YoY, FY14 Q1: 293.7% Revenue growth, TTM YoY, FY14 Q2: 481.9% Revenue growth, TTM YoY, FY14 Q3: 366.9% Revenue growth, TTM YoY, FY14 Q4: 247.5% 247.5%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY12 Q1 93.0%
FY12 Q2 66.8%
FY12 Q3 36.8%
FY12 Q4 -70.2%
FY13 Q1 -77.2%
FY13 Q2 -69.7%
FY13 Q3 -34.8%
FY13 Q4 52.2%
FY14 Q1 293.7%
FY14 Q2 481.9%
FY14 Q3 366.9%
FY14 Q4 247.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2022 Dec 2022 2023 Dec 2023 LTM Jun 2024
Income
Revenue 0.1 0.0 0.0 1.3 1.3 1.2
Net income −0.6 −0.2 0.3 0.2 0.2 −0.2
Diluted EPS −$257.60 −$82.80 $107.78 $1.46 $1.43 −$0.93
Growth (year on year)
Revenue — −10.5% −29.1% +>999% +7.2% —
Net income — — — −3.7% −0.8% —
Diluted EPS — — — −98.6% −2.1% —
Margins
Net margin <−999% −372.4% 731.2% 19.8% 18.3% −13.3%
Cash flow
Cash from operations 0.0 0.0 0.0 0.4 0.5 0.4
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0
Balance sheet
Cash 0.0 0.0 0.0 0.3 0.4 0.4
Total debt 0.0 0.1 — 17.6 16.5 16.0
Net debt (negative = net cash) −0.0 0.1 −0.0 17.3 16.2 15.6
Diluted shares 2m 2m 2m 171m 173m 169m
Returned to shareholders
Dividends — — — 0.4 0.4 0.4
Buybacks — — — 0.0 0.0 —
Total returned — — — 0.4 0.4 0.4

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$102M
Dividends (TTM)
$318M
Returned to shareholders
156%
of free cash flow
Buybacks, last 3 fiscal years
$139M
Diluted share count
−2.2%
year over year

Competitors: side by side with peers

Closest by revenue in mortgage reits
Last 12 months unless stated BXMT STWD ABR PMT BRSP RITM Median
Revenue, last 12 months $1.2bn $2.0bn $461m $348m $339m $5.7bn $147m
Revenue growth, last 12 months 247.5% 11.8% −12.9% 14.6% 2.5% 17.3% −0.3%
Revenue growth, 3-year average 132.0% 2.7% −14.2% −3.0% −6.6% 14.3% −5.0%
Revenue growth, latest quarter 117.1% 15.6% −16.3% 3.6% 4.1% 58.9% 1.8%
Net margin −13.3% 11.4% −23.3% 47.8% 5.6% 8.7% 10.0%
Cash from operations / revenue 35.3% 54.3% 72.6% <−999% 21.3% −25.0% 31.6%
Free-cash-flow margin — 48.0% 66.7% — 18.0% −30.5% 24.1%
Free-cash-flow margin, 3-year average — 35.0% 73.0% — 22.7% 24.3% 35.0%
Stock pay / revenue 2.7% 6.5% 3.2% 1.4% 3.8% 0.4% 3.8%
Change in share count −2.2% 11.5% −3.8% 4.7% −2.4% 6.0% 0.3%

Median of all 16 companies we cover in mortgage reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Who owns it

Funds buying and selling
Reported value
$1.8B
Institutions reporting
344
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
43 / 33

Top buyers and sellers, Q2 2026: 175 institutions bought and 131 sold ; the biggest buyer was UBS Group AG (+2.3M shares) and the biggest seller Grs Advisors, LLC (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $423M 25.0M 23.1% ▲ 2.2%
Blackstone Inc. $157M 9.3M 8.6% 0.0%
Vanguard Portfolio Management LLC $151M 8.9M 8.2% ▲ 1.2%
Vanguard Capital Management LLC $121M 7.2M 6.6% ▼ 0.8%
State Street Corp $112M 6.4M 6.1% ▲ 4.4%
UBS Group AG $77.2M 4.6M 4.2% ▲ 99.1%
Geode Capital Management, LLC $69.6M 4.1M 3.8% ▲ 5.8%
Morgan Stanley $47.9M 2.8M 2.6% ▲ 26.3%
Charles Schwab Investment Management Inc $39.6M 2.3M 2.2% ▼ 5.4%
Northern Trust Corp $32.8M 1.9M 1.8% ▲ 5.8%
Qube Research & Technologies Ltd $32.5M 1.9M 1.8% ▲ 22.2%
Invesco Ltd. $26.6M 1.6M 1.5% ▲ 18.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Blackstone Mortgage Trust, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $143,400 1 trade by 1 insider, last 12 months Insider sales History → $280,861 12 trades by 3 insiders · 100% under pre-set plans
Net ▼ $137,461 net selling
Insider Date Trade Shares Price Value
Pena Fernando Austin President September 30, 2026 Sell pre-set plan 1,725 $11.65 $20,091
Pena Fernando Austin President September 17, 2026 Sell pre-set plan 1,127 $13.42 $15,124
Urbaszek Marcin Chief Financial Officer September 17, 2026 Sell pre-set plan 864 $13.42 $11,595
Nassau Henry N Director August 4, 2026 Buy 10,000 $14.34 $143,400
Pena Fernando Austin President June 30, 2026 Sell pre-set plan 1,670 $17.07 $28,507
Pena Fernando Austin President June 25, 2026 Sell pre-set plan 2,398 $17.48 $41,917
Urbaszek Marcin Chief Financial Officer June 17, 2026 Sell pre-set plan 1,352 $18.35 $24,809
Pena Fernando Austin President March 31, 2026 Sell pre-set plan 1,666 $18.88 $31,454
Urbaszek Marcin Chief Financial Officer March 17, 2026 Sell pre-set plan 452 $19.13 $8,647
Pena Fernando Austin President December 31, 2025 Sell pre-set plan 3,131 $19.24 $60,240
Marone Anthony F. Jr Chief Financial Officer December 17, 2025 Sell pre-set plan 1,012 $20.31 $20,554
Urbaszek Marcin Deputy Chief Financial Officer December 17, 2025 Sell pre-set plan 400 $20.29 $8,116

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 7 trades and filings

No trades in Blackstone Mortgage Trust, Inc. disclosed in the last 12 months; 7 earlier trades on record.

  • Virginia Foxx(R-NC 5):Sale (full), $50,001 - $100,000, traded January 24, 2022, filed February 4, 2022
  • Virginia Foxx(R-NC 5):Purchase, $1,001 - $15,000, traded January 18, 2022, filed February 4, 2022
  • Virginia Foxx(R-NC 5):Purchase, $15,001 - $50,000, traded November 26, 2021, filed December 3, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 10, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 29, 2026
  • February 11, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Blackstone Mortgage Trust, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Blackstone Mortgage Trust, Inc. in brief

What does Blackstone Mortgage Trust, Inc. do?
Blackstone Mortgage Trust, Inc. is a US-listed company in the mortgage REITs industry. Its financial year ends in December.
What is Blackstone Mortgage Trust, Inc.'s stock ticker?
Blackstone Mortgage Trust, Inc. trades under the ticker BXMT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Blackstone Mortgage Trust, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Blackstone Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Blackstone Mortgage Trust, Inc. buying back stock, and does it pay a dividend?
Blackstone Mortgage Trust, Inc. spent $102M on share repurchases over the trailing twelve months, and its diluted share count fell 2.2% over the year.
What is Blackstone Mortgage Trust, Inc.'s market cap?
On November 2, 2026, Blackstone Mortgage Trust, Inc.'s market capitalisation was about $1.9B and net debt of $15.6B. Market figures come from third-party market data and may be delayed.
Does Blackstone Mortgage Trust, Inc. pay a dividend?
Yes: Blackstone Mortgage Trust, Inc. paid $318M in dividends over the trailing twelve months.
Who are Blackstone Mortgage Trust, Inc.'s competitors?
In our Mortgage REITs peer group, the companies closest to Blackstone Mortgage Trust, Inc. are Starwood Property Trust, Inc., Arbor Realty Trust Inc, Pennymac Mortgage Investment Trust, Brightspire Capital, Inc. and Rithm Capital Corp. The side-by-side comparison below sets their revenue, margins and growth against Blackstone Mortgage Trust, Inc.'s.
Are insiders buying or selling Blackstone Mortgage Trust, Inc. stock?
Over the last 12 months, Blackstone Mortgage Trust, Inc.'s directors and officers reported 1 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is Blackstone Mortgage Trust, Inc.'s next earnings date?
Around February 10, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Blackstone Mortgage Trust, Inc. announces its own schedule.