Blackstone Mortgage Trust, Inc. (BXMT) To Go Ex-Dividend on December 31st

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.47 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.88 dividend on an annualized basis and a yield of 10.54%. The ex-dividend date is Tuesday, December 31st.

Blackstone Mortgage Trust has increased its dividend by an average of 6.4% per year over the last three years. Blackstone Mortgage Trust has a dividend payout ratio of 125.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Blackstone Mortgage Trust to earn $1.65 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 113.9%.

Blackstone Mortgage Trust Price Performance

Shares of Blackstone Mortgage Trust stock opened at $17.83 on Thursday. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $23.10. The stock has a market cap of $3.08 billion, a P/E ratio of -12.83 and a beta of 1.50. The stock’s 50 day simple moving average is $18.65 and its 200-day simple moving average is $18.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BXMT shares. Wells Fargo & Company lifted their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Wolfe Research raised shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust has a consensus rating of “Hold” and a consensus target price of $20.07.

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.