: $0.0 Mil (As of Dec. 2023)
Preferred stock is a special equity security that has properties of both equity and debt. Blackstone Mortgage Trust's preferred stock for the quarter that ended in Dec. 2023 was $0.0 Mil.
The market value of preferred stock needs to be added to the market value of common stocks in the calculation of Enterprise Value. Blackstone Mortgage Trust's Enterprise Value for the quarter that ended in Dec. 2023 was $22,653.6 Mil.
In the calculation of book value, the par value of preferred stocks needs to subtracted from total equity. Blackstone Mortgage Trust's Book Value per Share for the quarter that ended in Dec. 2023 was $25.22.
Dividends paid to preferred stocks need to be subtracted from net income in the calculation of Earnings per Share (Diluted). Blackstone Mortgage Trust's Earnings per Share (Diluted) for the threemonths ended in Dec. 2023 was $-0.01.
Blackstone Mortgage Trust Preferred Stock Historical Data
The historical data trend for Blackstone Mortgage Trust's Preferred Stock can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* Premium members only.
Blackstone Mortgage Trust Annual Data | |||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |
Preferred Stock | - | - | - | - | - |
Blackstone Mortgage Trust Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Preferred Stock | - | - | - | - | - |
Blackstone Mortgage Trust Preferred Stock Calculation
Preferred Stock is a special equity security that has properties of both equity and debt. It is generally considered a hybrid instrument. Preferred stock is senior to common stock, but is subordinate to bonds in terms of claim or rights to their share of the assets of the company.
Preferred stock has priority over common stock in the payment of dividends and any payments received when a company liquidates.
Preferred stock comes in many forms. It can be:
Convertible or Non-Convertible
Cumulative or Non-Cumulative
Voting or Non-Voting
Callable or Non-Callable
Maturity Date or No Maturity Date
A preferred stock without a maturity date is called a perpetual preferred stock. These are relatively rare. A good example of perpetual preferred stock is the many series of Public Storage (PSA) preferred shares that trade on the New York Stock Exchange.
Before investing in preferred stock, it is important to know which of the above groups the stock belongs to. Is it convertible or non-convertible? Are dividends cumulative or non-cumulative?
It is also critical that an investor knows what bonds the company has in front of the preferred stock. Bondholders get paid first. So the decision to buy a preferred stock can be similar to the decision to buy a bond. But, remember, the preferred stock of a company with bonds is junior to those bonds.
Unless a preferred stock is convertible, the upside in a preferred stock investment is more limited than in a common stock investment. If a company doubles its earnings, it is usually under no more obligation to double the dividends paid to preferred shareholders than it is to double the interest paid to its bankers and bondholders.So preferred stock is very different from common stock.
Blackstone Mortgage Trust(NYSE:BXMT) Preferred Stock Explanation
When a company needs capital but does not wish to issue debt, they may sell preferred stocks to investors.
For instance, during the financial crisis of 2008, Goldman Sachs (GS) issued a combination of preferred stock and common stock options for $5 billion of capital to Warren Buffetts Berkshire Hathaway (BRK.A)(BRK.B). In this deal, Berkshire Hathaway paid $5 billion for 10% cumulative perpetual preferred stock and warrants to buy 43.5 million shares of Goldman Sachs at $115 a share. Goldman Sachs bought back the preferred in 2010. Guess how much money Warren Buffett made in this deal in two years? Read How Much Did Warren Buffetts Berkshire Hathaway (BRK.B) Make on Its Goldman Sachs (GS) Preferred Stock?
1. The market value of Preferred Stocks needs to be added to the market value of common stocks in the calculation of enterprise value.
Blackstone Mortgage Trust's Enterprise Value for the quarter that ended in Dec. 2023 is calculated as
Enterprise Value | |||||||||
= | Market Cap | + | Preferred Stock | + | + | + | Minority Interest | ||
= | 3684.1767 | + | 0 | + | 6616.574 | + | 12683.095 | + | 19.793 |
- | Cash, Cash Equivalents, Marketable Securities | ||||||||
- | 350.014 | ||||||||
= | 22,653.6 |
2. In the calculation of Book Value, the par value of Preferred Stocks needs to subtracted from total equity.
Blackstone Mortgage Trust's Book Value per Share for the quarter that ended in Dec. 2023 is calculated as
Book Value per Share | = | (Total Stockholders Equity | - | Preferred Stock) | / | Shares Outstanding (Diluted Average) |
= | (4367.711 | - | 0) | / | 173.21 | |
= | 25.22 |
3. Dividends paid to Preferred Stocks need to be subtracted from net income in the calculation of earnings per share.
Blackstone Mortgage Trust's Earnings per Share (Diluted) (EPS) for the three months ended in Dec. 2023 is calculated as
Earnings per Share (Diluted) | = | (Net Income | - | Preferred Dividends) | / | Shares Outstanding (Diluted Average) |
= | (-2.377 | - | 0) | / | 172.826 | |
= | -0.01 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Blackstone Mortgage Trust Preferred Stock Related Terms
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Blackstone Mortgage Trust (NYSE:BXMT) Business Description
Industry
GURUFOCUS.COM »STOCK LIST »Real Estate » REITs » Blackstone Mortgage Trust Inc (NYSE:BXMT) » Definitions » Preferred Stock
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Traded in Other Exchanges
BXMT:Mexico 079A:Germany 079A:Germany
Address
345 Park Avenue, 24th Floor, New York, NY, USA, 10154
Blackstone Mortgage Trust Inc is a real estate finance company primarily involved in the origination and purchase of senior loans collateralized by commercial properties in North America, Europe, and Australia. The vast majority of the company's asset portfolio is comprised of floating rate loans secured by priority mortgages. These mortgages are mainly derived from office, hotel, and manufactured housing properties. A significant percentage of the collateralized real estate properties are located in New York, California, and the United Kingdom. Blackstone Mortgage Trust is managed by a subsidiary of The Blackstone Group and benefits from the market data provided by its parent company. Nearly all of Blackstone Mortgage Trust's revenue is generated in the form of interest income.
Executives
Marone Anthony F. Jr | officer: Chief Financial Officer | C/O BLACKSTONE MORTGAGE TRUST, 345 PARK AVENUE, NEW YORK NY 10154 |
Katharine A Keenan | director, officer: CEO & President | C/O BLACKSTONE MORTGAGE TRUST, 345 PARK AVENUE, NEW YORK NY 10154 |
Nnenna Lynch | director | 4040 WILSON BOULEVARD, SUITE1000, ARLINGTON VA 22203 |
Lynne B Sagalyn | director | |
Leonard W Cotton | director | 625 MADISON AVENUE, NEW YORK NY 10022 |
Henry N Nassau | director | 435 DEVON PARK DR, BLDG 600, WAYNE PA 19087 |
Thomas E Dobrowski | director | MANUFACTURED HOME COMMUNTIES INC, 2 N RIVERSIDE PLZ #8, CHICAGO IL 60606 |
Timothy Steven Johnson | director | C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154 |
Michael B. Nash | director | C/O THE BLACKSTONE GROUP, 345 PARK AVENUE, NEW YORK NY 10154 |
Gilda Perez-alvarado | director | C/O SONDER HOLDINGS, INC., 101 15TH ST., SAN FRANCISCO CA 94103 |
Jonathan Lee Pollack | director | C/O BLACKSTONE MORTGAGE TRUST, INC., 345 PARK AVE., 42ND FLOOR, NEW YORK NY 10154 |
Douglas N. Armer | officer: Principal and Treasurer | C/O BLACKSTONE MORTGAGE TRUST, 345 PARK AVENUE, NEW YORK NY 10154 |
Stephen D Plavin | director, officer: CEO | OMEGA HEALTHCARE INVESTORS INC, 900 VICTORS WAY SUITE 350, ANN ARBOR MI 48108 |
Thomas C Ruffing | officer: CCO, Head of Asset Management | C/O CAPITAL TRUST, INC. 410 PARK AVENUE, 14TH FLOOR, NEW YORK NY 10022 |
Paul D Quinlan | officer: Chief Financial Officer | C/O BLACKSTONE MORTGAGE TRUST, 345 PARK AVENUE, NEW YORK NY 10154 |
Blackstone Mortgage Trust (NYSE:BXMT) Headlines
From GuruFocus
Gilda Perez-Alvarado Appointed to the Board of Directors of Blackstone Mortgage Trust
By Business Wire02-01-2023
BXMT LOSS ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages Blackstone Mortgage Trust, Inc. Investors to Inquire About Securities Class Action Investigation -- BXMT
By 12-08-2023
Blackstone Mortgage Trust Reports Second Quarter 2022 Results
By Business Wire07-27-2022
Blackstone Mortgage Trust Reports Third Quarter 2022 Results
By Business Wire10-26-2022
Blackstone Mortgage Trust Inc (BXMT) Reports Q3 2023 Earnings: Net Income at $30 Million
By 10-25-2023
Blackstone Mortgage Trust Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call
By Business Wire01-09-2023
Blackstone Mortgage Trust Announces Second Quarter 2023 Earnings Release and Conference Call
By 07-06-2023
BXMT LOSS ALERT: ROSEN, LEADING INVESTOR COUNSEL, Encourages Blackstone Mortgage Trust, Inc. Investors to Inquire About Securities Class Action Investigation - BXMT
By 12-14-2023
Blackstone Mortgage Trust Inc's Meteoric Rise: Unpacking the 29% Surge in Just 3 Months
By 09-05-2023
Blackstone Mortgage Trust Announces Second Quarter 2022 Earnings Release and Conference Call
By Business Wire07-13-2022