NEW YORK (AP) _ Blackstone Mortgage Trust Inc. (BXMT) on Tuesday reported fourth-quarter earnings of $78.9 million.
The New York-based company said it had net income of 59 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 68 cents per share.
The results surpassed 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 $109.7 million in the period.
For the year, the company reported profit of $305.6 million, or $2.35 per share. Revenue was reported as $424.2 million.
Blackstone Mortgage shares have risen 4.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.88, a rise of 12% in the last 12 months.