Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Announces $0.62 Quarterly Dividend

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) announced a quarterly dividend on Friday, June 14th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.62 per share by the real estate investment trust on Monday, July 15th. This represents a $2.48 annualized dividend and a dividend yield of 13.74%. The ex-dividend date is Friday, June 28th.

Blackstone Mortgage Trust has increased its dividend by an average of 6.4% annually over the last three years. Blackstone Mortgage Trust has a dividend payout ratio of 129.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Blackstone Mortgage Trust to earn $1.87 per share next year, which means the company may not be able to cover its $2.48 annual dividend with an expected future payout ratio of 132.6%.

Blackstone Mortgage Trust Stock Up 0.4 %

Shares of BXMT traded up $0.07 during trading hours on Wednesday, hitting $18.05. 610,849 shares of the company were exchanged, compared to its average volume of 2,062,042. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 599.00 and a beta of 1.47. Blackstone Mortgage Trust has a fifty-two week low of $16.70 and a fifty-two week high of $23.82. The firm’s fifty day moving average is $17.81 and its 200 day moving average is $19.47.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,296 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.04, for a total transaction of $39,123.84. Following the transaction, the chief executive officer now directly owns 187,468 shares in the company, valued at approximately $3,194,454.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 4,508 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $17.53, for a total value of $79,025.24. Following the completion of the sale, the chief executive officer now owns 182,960 shares in the company, valued at $3,207,288.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Katharine A. Keenan sold 2,296 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.04, for a total value of $39,123.84. Following the transaction, the chief executive officer now directly owns 187,468 shares in the company, valued at $3,194,454.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,057 shares of company stock worth $191,141. Corporate insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

BXMT has been the subject of several recent analyst reports. Bank of America downgraded Blackstone Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $21.00 in a research report on Monday, March 4th. Wolfe Research started coverage on Blackstone Mortgage Trust in a research report on Tuesday. They set a “peer perform” rating for the company. UBS Group decreased their price objective on Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 price objective on shares of Blackstone Mortgage Trust in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. reduced their target price on Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Blackstone Mortgage Trust currently has an average rating of “Hold” and a consensus price target of $19.93.

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.