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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT - Get Free Report) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.47 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.88 annualized dividend and a dividend yield of 10.08%. The ex-dividend date is Tuesday, December 31st.

Blackstone Mortgage Trust has increased its dividend payment by an average of 6.4% per year over the last three years. Blackstone Mortgage Trust has a payout ratio of 125.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Blackstone Mortgage Trust to earn $1.65 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 113.9%.

Blackstone Mortgage Trust Trading Down 2.4 %

Shares of NYSE:BXMT traded down $0.46 during mid-day trading on Tuesday, reaching $18.65. The stock had a trading volume of 1,612,940 shares, compared to its average volume of 1,891,559. The firm has a 50 day simple moving average of $18.65 and a two-hundred day simple moving average of $18.34. Blackstone Mortgage Trust has a twelve month low of $16.53 and a twelve month high of $23.10. The firm has a market cap of $3.23 billion, a PE ratio of -13.42 and a beta of 1.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BXMT. Wolfe Research raised shares of Blackstone Mortgage Trust from a "peer perform" rating to an "outperform" rating and set a $20.00 price target on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their target price on Blackstone Mortgage Trust from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.07.

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.