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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) declared a quarterly dividend on Monday, December 15th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.47 per share by the real estate investment trust on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Wednesday, December 31st.

Blackstone Mortgage Trust has decreased its dividend payment by an average of 0.0%annually over the last three years. Blackstone Mortgage Trust has a dividend payout ratio of 104.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Blackstone Mortgage Trust Trading Down 1.0%

BXMT traded down $0.22 on Tuesday, reaching $20.42. The company had a trading volume of 175,901 shares, compared to its average volume of 1,418,968. Blackstone Mortgage Trust has a one year low of $16.51 and a one year high of $21.24. The company has a market capitalization of $3.42 billion, a P/E ratio of 32.94 and a beta of 1.08. The company has a fifty day moving average of $18.79 and a 200-day moving average of $19.10.

Blackstone Mortgage Trust (NYSE:BXMT) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $132.71 million during the quarter, compared to analyst estimates of $103.56 million. Blackstone Mortgage Trust had a net margin of 7.53% and a return on equity of 4.06%. Research analysts predict that Blackstone Mortgage Trust will post 1.65 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BXMT. Keefe, Bruyette & Woods upgraded shares of Blackstone Mortgage Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $21.00 in a report on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Blackstone Mortgage Trust in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. raised their target price on Blackstone Mortgage Trust from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone Mortgage Trust presently has an average rating of “Hold” and an average target price of $20.33.

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.