Blackstone Mortgage Trust, Inc. (NYSE:BXMT) to Issue $0.62 Quarterly Dividend

Blackstone Mortgage Trust, Inc. (NYSE:BXMT – Get Rating) declared a quarterly dividend on Wednesday, June 15th, Zacks reports. Investors of record on Thursday, June 30th will be given a dividend of 0.62 per share by the real estate investment trust on Friday, July 15th. This represents a $2.48 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date of this dividend is Wednesday, June 29th.

Blackstone Mortgage Trust has a payout ratio of 93.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Blackstone Mortgage Trust to earn $2.47 per share next year, which means the company may not be able to cover its $2.48 annual dividend with an expected future payout ratio of 100.4%.

NYSE:BXMT opened at $26.14 on Friday. Blackstone Mortgage Trust has a 1 year low of $25.99 and a 1 year high of $34.04. The stock’s 50 day simple moving average is $30.53 and its two-hundred day simple moving average is $31.01. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 9.37 and a beta of 1.23.

Blackstone Mortgage Trust (NYSE:BXMT – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). Blackstone Mortgage Trust had a return on equity of 8.75% and a net margin of 54.55%. The firm had revenue of $133.72 million during the quarter, compared to the consensus estimate of $133.75 million. During the same period in the previous year, the firm earned $0.53 EPS. The business’s revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts expect that Blackstone Mortgage Trust will post 2.31 EPS for the current fiscal year.

In other Blackstone Mortgage Trust news, CFO Anthony F. Marone, Jr. sold 967 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $30.62, for a total value of $29,609.54. Following the transaction, the chief financial officer now owns 45,246 shares of the company’s stock, valued at approximately $1,385,432.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan sold 992 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $32.03, for a total value of $31,773.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,141 shares of company stock worth $344,254. Corporate insiders own 1.06% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC lifted its holdings in shares of Blackstone Mortgage Trust by 5.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 18,125 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 894 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Blackstone Mortgage Trust by 43.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,607 shares of the real estate investment trust’s stock worth $401,000 after buying an additional 3,802 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Blackstone Mortgage Trust by 29.0% during the 1st quarter. Penserra Capital Management LLC now owns 11,526 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 2,592 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Blackstone Mortgage Trust during the 4th quarter worth $352,000. Finally, Advisory Services Network LLC lifted its stake in shares of Blackstone Mortgage Trust by 28.1% during the 1st quarter. Advisory Services Network LLC now owns 9,999 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 2,192 shares during the last quarter. Institutional investors and hedge funds own 55.13% of the company’s stock.

Separately, StockNews.com began coverage on Blackstone Mortgage Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

Blackstone Mortgage Trust Company Profile (Get Rating)

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders.

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