Blackstone Mortgage Trust (BXMT) Operating Expenses (2010 - 2026)
Blackstone Mortgage Trust (BXMT) posted quarterly Operating Expenses of $111.0 million for Q2 2026, up 41.66% year-over-year from $78.4 million in Q2 2025, and little changed quarter-over-quarter from $110.8 million in Q1 2026.
Blackstone Mortgage Trust (BXMT) Operating Expenses (2010 - 2026) Analysis & Trends
Blackstone Mortgage Trust (BXMT) has reported Operating Expenses for 17 consecutive years, with $111.0 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses rose 41.66% year-over-year to $111.0 million; the TTM figure through Jun 2026 stood at $402.5 million (up 64.3% YoY), while the FY2025 annual figure was $335.3 million, up 114.35% from the prior year.
- Operating Expenses held at $111.0 million in Q2 2026 per BXMT's latest filing, from $110.8 million in the prior quarter.
- Across five years, Operating Expenses topped out at $111.0 million in Q2 2026 and bottomed at $32.7 million in Q1 2024.
- Historically, Operating Expenses has averaged $58.1 million across 5 years, with a median of $44.9 million in 2023.
- Annual changes were most pronounced in 2024 — Operating Expenses dropped 27.24% — and 2025, when it soared 134.96%.
- Blackstone Mortgage Trust's Operating Expenses stood at $48.3 million in 2022, then decreased by 18.06% to $39.6 million in 2023, then surged by 40.72% to $55.7 million in 2024, then jumped by 93.93% to $108.1 million in 2025, then grew by 2.72% to $111.0 million in 2026.
- Business Quant data shows BXMT's Operating Expenses at $111.0 million in Q2 2026, $110.8 million in Q1 2026, and $108.1 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 17.29 Bn | 14.38 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.65 Bn | 11.32 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.95 Bn | 3.79 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.71 Bn | 5.71 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.93 Bn | 2.32 Bn | - | 16.21 Mn |
| 6 | Blackstone Mortgage Trust | 2.40 Bn | 1.97 Bn | - | 111.00 Mn |
| 7 | Armour Residential REIT | 2.12 Bn | 2.03 Bn | - | 17.16 Mn |
| 8 | Ellington Financial | 1.73 Bn | 1.49 Bn | - | 76.02 Mn |
| 9 | Orchid Island Capital | 1.34 Bn | 654.61 Mn | 61.82 Mn | 6.76 Mn |
| 10 | Two Harbors Investment | 1.26 Bn | 617.08 Mn | - | 51.40 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 111.00 Mn |
| Mar 31, 2026 | 110.77 Mn |
| Dec 31, 2025 | 108.06 Mn |
| Sep 30, 2025 | 72.70 Mn |
| Jun 30, 2025 | 78.36 Mn |
| Mar 31, 2025 | 76.20 Mn |
| Dec 31, 2024 | 55.72 Mn |
| Sep 30, 2024 | 34.71 Mn |
| Jun 30, 2024 | 33.35 Mn |
| Mar 31, 2024 | 32.66 Mn |
| Dec 31, 2023 | 39.60 Mn |
| Sep 30, 2023 | 40.88 Mn |
| Jun 30, 2023 | 45.84 Mn |
| Mar 31, 2023 | 43.92 Mn |
| Dec 31, 2022 | 48.32 Mn |
| Sep 30, 2022 | 38.84 Mn |
| Jun 30, 2022 | 39.47 Mn |
| Mar 31, 2022 | 35.85 Mn |
| Dec 31, 2021 | 39.43 Mn |
| Sep 30, 2021 | 30.18 Mn |