Blackstone Mortgage Trust, Inc. (BXMT) To Go Ex-Dividend on March 31st

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 9.47%. The ex-dividend date of this dividend is Monday, March 31st.

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 dividend payout ratio of 93.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Blackstone Mortgage Trust Stock Performance

Shares of NYSE BXMT opened at $19.86 on Friday. The stock has a market capitalization of $3.41 billion, a PE ratio of -16.97 and a beta of 1.52. Blackstone Mortgage Trust has a 52 week low of $16.53 and a 52 week high of $21.24. The stock has a 50 day moving average price of $19.65 and a 200 day moving average price of $18.93.

Blackstone Mortgage Trust (NYSE:BXMT) last released its earnings results 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 negative net margin of 11.54% and a positive return on equity of 8.62%. As a group, research analysts forecast that Blackstone Mortgage Trust will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BXMT. JPMorgan Chase & Co. upped their target price on shares of Blackstone Mortgage Trust from $17.50 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Wolfe Research upgraded Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods lifted their target price on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, UBS Group boosted their target price on Blackstone Mortgage Trust from $18.50 to $19.50 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Blackstone Mortgage Trust presently has an average rating of “Hold” and a consensus price target of $20.67.

Insider Transactions at Blackstone Mortgage Trust

In related news, CEO Katharine A. Keenan sold 2,315 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $20.70, for a total transaction of $47,920.50. Following the completion of the transaction, the chief executive officer now directly owns 246,172 shares in the company, valued at $5,095,760.40. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 5,652 shares of company stock valued at $116,971. 0.93% of the stock is currently owned by 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.