Blackstone Mortgage Trust, Inc. Announces Quarterly Dividend of $0.47 (NYSE:BXMT)

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.47 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.88 annualized dividend and a dividend yield of 9.47%. The ex-dividend date is Monday, March 31st.

Blackstone Mortgage Trust has decreased its dividend payment by an average of 0.2% annually over the last three years. Blackstone Mortgage Trust has a dividend payout ratio of 93.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Blackstone Mortgage Trust Price Performance

NYSE:BXMT opened at $19.86 on Friday. Blackstone Mortgage Trust has a one year low of $16.53 and a one year high of $21.24. The company has a market cap of $3.41 billion, a PE ratio of -16.97 and a beta of 1.52. The firm’s 50 day simple moving average is $19.65 and its 200 day simple moving average is $18.93.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. Equities research analysts expect that Blackstone Mortgage Trust will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BXMT. Keefe, Bruyette & Woods increased their price target on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “market perform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. UBS Group boosted their price target on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Wolfe Research upgraded shares of Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.67.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,323 shares of Blackstone Mortgage Trust stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.70, for a total value of $48,086.10. Following the completion of the sale, the chief executive officer now directly owns 248,487 shares of the company’s stock, valued at approximately $5,143,680.90. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 5,652 shares of company stock valued at $116,971. 0.93% of the stock is currently owned by company insiders.

About Blackstone Mortgage Trust

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.