Blackstone Mortgage Trust, Inc. Declares 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 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 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 fall.

Blackstone Mortgage Trust Trading Up 2.6 %

NYSE BXMT opened at $20.61 on Friday. The company’s 50-day moving average price is $19.09 and its 200-day moving average price is $18.77. The stock has a market cap of $3.54 billion, a PE ratio of -17.61 and a beta of 1.52. Blackstone Mortgage Trust has a 12 month low of $16.53 and a 12 month high of $21.09.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that Blackstone Mortgage Trust will post 1.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

BXMT has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective 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. Wolfe Research raised 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. Finally, UBS Group raised 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.67.

Insider Transactions at Blackstone Mortgage Trust

In related 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,345 shares of company stock valued at $68,265 in the last 90 days. 0.93% of the stock is currently owned by company insiders.

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.