COMP <GO>

RLJ vs BXMT // EV/EBITDA & P/E VALUATION

RLJ Lodging Trust of $0.01 par value (NYSE) VS. Blackstone Mortgage Trust Inc. (NYSE) • 15-METRIC TALLY: RLJ 3 — BXMT 4

■ METRIC PARITY

LAST: $12.71 (+1.68%) • MKT CAP: $1.94B

valuation

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LAST: $10.87 (+2.94%) • MKT CAP: $1.83B

valuation

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (RLJ VS. BXMT) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	RLJ	BXMT	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	1.30%	3.10%	-1.80	BXMT	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	12.59%	15.06%	-2.47	BXMT	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	2.10%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-1.40%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	4.72%	0.00%	+4.72	RLJ	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	5/9	-1.00	BXMT	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	72.4	45.0	+27.39	RLJ	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	63.1x	15.5x	+47.60	BXMT	/forward-pe <GO>
Enterprise Scale & Market Cap	$1.94B	$1.83B	$104.6M	RLJ	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	RLJ REV	BXMT REV	RLJ GROSS %	BXMT GROSS %	RLJ FCF	BXMT FCF
FY 2025	$1.35B	$0	—	—	$243.8M	$275.9M
FY 2024	$1.37B	$0	—	—	$285.4M	$366.5M
FY 2023	$1.33B	$0	—	—	$315.1M	$458.8M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

RLJ // BETA —

BXMT // BETA —