Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Declares $0.62 Quarterly Dividend

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) announced a quarterly dividend on Friday, June 14th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.62 per share by the real estate investment trust on Monday, July 15th. This represents a $2.48 dividend on an annualized basis and a yield of 13.77%. The ex-dividend date is Friday, June 28th.

Blackstone Mortgage Trust has raised its dividend payment by an average of 6.4% per year over the last three years. Blackstone Mortgage Trust has a payout ratio of 129.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Blackstone Mortgage Trust to earn $1.87 per share next year, which means the company may not be able to cover its $2.48 annual dividend with an expected future payout ratio of 132.6%.

Blackstone Mortgage Trust Trading Down 1.0 %

NYSE:BXMT opened at $18.01 on Thursday. The company has a 50-day moving average price of $17.81 and a 200-day moving average price of $19.47. Blackstone Mortgage Trust has a 12 month low of $16.70 and a 12 month high of $23.82. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 606.33 and a beta of 1.47.

Insider Buying and Selling at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 4,508 shares of Blackstone Mortgage Trust stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the sale, the chief executive officer now directly owns 182,960 shares in the company, valued at $3,207,288.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Katharine A. Keenan sold 4,508 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction of $79,025.24. Following the completion of the sale, the chief executive officer now directly owns 182,960 shares in the company, valued at $3,207,288.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katharine A. Keenan sold 2,296 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.04, for a total transaction of $39,123.84. Following the sale, the chief executive officer now owns 187,468 shares of the company’s stock, valued at $3,194,454.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,057 shares of company stock worth $191,141. 0.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BXMT. Bank of America cut shares of Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $21.00 in a research report on Monday, March 4th. Wells Fargo & Company lowered their price target on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Wolfe Research began coverage on shares of Blackstone Mortgage Trust in a research report on Tuesday. They set a “peer perform” rating for the company. Finally, UBS Group lowered their price target on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Blackstone Mortgage Trust presently has a consensus rating of “Hold” and an average target price of $19.93.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.