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 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 9.12%.

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

Blackstone Mortgage Trust Trading Up 2.6 %

BXMT opened at $20.61 on Friday. Blackstone Mortgage Trust has a 1-year low of $16.53 and a 1-year high of $21.09. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -17.61 and a beta of 1.52. The business has a 50 day moving average of $19.09 and a 200-day moving average of $18.77.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Katharine A. Keenan sold 2,323 shares of the firm’s stock in a transaction 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 directly owns 248,487 shares in the company, valued at approximately $5,143,680.90. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 3,345 shares of company stock worth $68,265. 0.93% of the stock is owned by corporate 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.