NEW YORK (AP) _ Blackstone Mortgage Trust Inc. (BXMT) on Tuesday reported fourth-quarter profit of $73.6 million.
On a per-share basis, the New York-based company said it had net income of 61 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 69 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The real estate finance company posted revenue of $102.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $97.4 million.
For the year, the company reported profit of $285.1 million, or $2.50 per share. Revenue was reported as $396.5 million.
Blackstone Mortgage shares have increased roughly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.59, a rise of 15 percent in the last 12 months.
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