stockcam Quarterly BV Fluctuation: Basically an Exact Match (Within a 0.5% Variance). Adjusted Core Earnings/EAD: Minor Outperformance ($0.02 Variance). An "as expected" quarter regarding Blackstone Mortgage Trust, Inc.'s (NYSE:BXMT) BV in my opinion. BXMT recorded a minor - modest quarterly BV decrease which was correctly anticipated. When factoring in impacts from recording net realized losses during the quarter (also known as "charge-offs"), BXMT recorded a net increase to the company's CECL reserves o ...