Blackstone Mortgage beats 3Q profit forecasts

NEW YORK (AP) _ Blackstone Mortgage Trust Inc. (BXMT) on Tuesday reported third-quarter earnings of $57.7 million.The New York-based company said it h

NEW YORK (AP) _ Blackstone Mortgage Trust Inc. (BXMT) on Tuesday reported third-quarter earnings of $57.7 million.

The New York-based company said it had profit of 61 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 69 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The real estate finance company posted revenue of $78.6 million in the period.

Blackstone Mortgage shares have risen 5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.62, a rise of 6 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BXMT at https://www.zacks.com/ap/BXMT

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