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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) declared a quarterly dividend on Monday, June 15th. Investors of record on Tuesday, June 30th will be given a dividend of 0.47 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 10.4%. The ex-dividend date is Tuesday, June 30th.

Blackstone Mortgage Trust has decreased its dividend payment by an average of 0.1%annually over the last three years. Blackstone Mortgage Trust has a dividend payout ratio of 104.4% indicating that 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 $1.76 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 106.8%.

Blackstone Mortgage Trust Trading Down 1.4%

NYSE:BXMT opened at $18.10 on Tuesday. Blackstone Mortgage Trust has a 12 month low of $17.67 and a 12 month high of $20.67. The stock has a 50 day moving average of $18.84 and a two-hundred day moving average of $19.23. The firm has a market cap of $3.05 billion, a P/E ratio of 29.67 and a beta of 0.89.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BXMT shares. Zacks Research lowered Blackstone Mortgage Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings lowered Blackstone Mortgage Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut their price objective on Blackstone Mortgage Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, UBS Group started coverage on Blackstone Mortgage Trust in a research note on Tuesday, June 2nd. They set a “buy” rating and a $21.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Blackstone Mortgage Trust currently has a consensus rating of “Moderate Buy” and an average target price of $21.38.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc (NYSE: BXMT) is a publicly traded real estate finance company that originates, acquires and manages commercial mortgage loans and other CRE debt investments. As an externally managed real estate investment trust (REIT), it seeks to generate attractive risk-adjusted returns through the deployment of senior floating-rate and fixed-rate loans backed by income-producing properties.

The firm’s core business activities span the origination of senior mortgage loans, the acquisition of loan portfolios and other real estate debt instruments, and the active management of those investments.