BXMT — what changed in the latest 10-Q
A section-by-section comparison of BXMT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-30 vs the prior 10-Q · 2026-04-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +108 | −79 | ~162 | 423 |
| Market risk (Item 3) | Text added/removed | +4 | −3 | ~9 | 61 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 18 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-30
including our share related to unconsolidated entities, of $0.76 per share.
Allocable share of adjustments related to unconsolidated entities(6)
Distributable Earnings prior to realized gains and losses per share, basic
(1)Represents net loss attributable to Blackstone Mortgage Trust, Inc.
Lease Joint Venture and Homebuilder Finance Joint Venture, our owned real estate assets, and our investment in debt
Text removed vs the prior filing · source: 10-Q · 2026-04-29
Distributable Earnings per share, basic, prior to realized gains and losses
(1)Represents net (loss) income attributable to Blackstone Mortgage Trust.
Lease Joint Venture, our owned real estate assets, and our investments in debt securities. The chart below details the
composition of our Investment Portfolio as of March 31, 2026:
by our Bank Loan Portfolio Joint Venture, (iv) the aggregate carrying value of our owned real estate assets, and (v)
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-07-30
Secured Notes due 2029, and Senior Secured Notes due 2031. We entered into interest rate swaps with an aggregate
notional amount of $900.0 million that effectively converts our fixed rate exposure to floating rate exposure for the
Senior Secured Notes due 2029 and Senior Secured Notes due 2031. Excludes amounts related to the indebtedness
As of June 30, 2026, 97% of our loans by principal balance earned a floating rate of interest, so the value of such
Text removed vs the prior filing · source: 10-Q · 2026-04-29
Secured Notes due 2029, for which we entered into an interest rate swap with a notional amount of $450.0 million
that effectively converts our fixed rate exposure to floating rate exposure for such notes. Excludes amounts related to
As of March 31, 2026, 97% of our loans by principal balance earned a floating rate of interest, so the value of such
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice