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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) announced a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.47 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.12%.

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 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Blackstone Mortgage Trust Price Performance

NYSE:BXMT traded up $0.52 during trading hours on Friday, reaching $20.61. The company had a trading volume of 1,193,307 shares, compared to its average volume of 1,747,716. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $21.09. The business’s 50 day moving average price is $19.04 and its 200-day moving average price is $18.75. The firm has a market cap of $3.54 billion, a PE ratio of -17.61 and a beta of 1.52.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts expect that Blackstone Mortgage Trust will post 1.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BXMT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Wolfe Research upgraded 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. JPMorgan Chase & Co. increased their target price on Blackstone Mortgage Trust from $17.50 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. Finally, 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 report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.67.

Insiders Place Their Bets

In related news, CEO Katharine A. Keenan sold 2,323 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 owns 248,487 shares of the company’s stock, valued at approximately $5,143,680.90. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 3,345 shares of company stock valued at $68,265 in the last 90 days. 0.93% of the stock is owned by 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.