Prior to this sale, Marone acquired 12,000 shares of restricted Class A Common Stock on December 15, 2024, as part of the company's Stock Incentive Plan. This acquisition did not involve any cash transaction, as the shares were granted as part of the plan. Following these transactions, Marone holds 67,121 shares of Blackstone Mortgage (NYSE:BXMT) Trust.
Prior to this sale, Marone acquired 12,000 shares of restricted Class A Common Stock on December 15, 2024, as part of the company's Stock Incentive Plan. This acquisition did not involve any cash transaction, as the shares were granted as part of the plan. Following these transactions, Marone holds 67,121 shares of Blackstone (NYSE:BX) Mortgage Trust.
Prior to this sale, Marone acquired 12,000 shares of restricted Class A Common Stock on December 15, 2024, as part of the company's Stock Incentive Plan. This acquisition did not involve any cash transaction, as the shares were granted as part of the plan. Following these transactions, Marone holds 67,121 shares of Blackstone Mortgage Trust.
In other recent news, Blackstone Mortgage Trust reported mixed Q3 2024 earnings, posting a GAAP net loss of $0.32 per share, but distributable earnings (DE) of $0.39 per share and $0.49 per share before charge-offs. Amid a changing interest rate environment, the company managed repayments totaling $1.8 billion and new originations close to $700 million. In addition, the company has secured additional term loans and issued senior secured notes. The proceeds from these financial maneuvers will be used for general corporate purposes, including the repayment of existing secured debts. Blackstone Mortgage Trust also launched a private offering of $450 million 7.750% senior secured notes due 2029, targeting qualified institutional buyers in the United States and certain non-US persons in offshore transactions. Despite expected short-term earnings pressure due to loan resolutions and impairments, the company expects to recover over half of the $2.3 billion in impaired loans and is considering share buybacks alongside new loan originations. These are recent developments that reflect the company's strategic navigation through the complexities of the current economic landscape.
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