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

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) declared a quarterly dividend on Monday, September 15th, RTT News reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.47 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Tuesday, September 30th.

Blackstone Mortgage Trust has a payout ratio of 104.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT opened at $18.72 on Friday. The company’s 50 day moving average price is $19.22 and its 200 day moving average price is $19.24. The company has a market capitalization of $3.21 billion, a PE ratio of -267.43 and a beta of 1.16. Blackstone Mortgage Trust has a 52 week low of $16.51 and a 52 week high of $21.24.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group increased their price objective on Blackstone Mortgage Trust from $19.50 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone Mortgage Trust from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.50.

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.