Blackstone Mortgage Trust, Inc. (BXMT) to Issue Quarterly Dividend of $0.47 on January 15th

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) 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 10.50%. The ex-dividend date of this dividend 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of NYSE:BXMT opened at $17.91 on Friday. The company has a 50-day simple moving average of $18.62 and a 200 day simple moving average of $18.38. The company has a market capitalization of $3.10 billion, a P/E ratio of -12.88 and a beta of 1.50. Blackstone Mortgage Trust has a 52-week low of $16.53 and a 52-week high of $22.16.

Analyst Ratings Changes

BXMT has been the topic of a number of recent analyst reports. Wolfe Research raised Blackstone Mortgage Trust from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of Blackstone Mortgage Trust from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.07.

About Blackstone Mortgage Trust

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.