Blackstone Mortgage Trust Inc (NYSE:BXMT) announced a quarterly dividend on Tuesday, March 13th, RTT News reports. Stockholders of record on Friday, March 30th will be paid a dividend of 0.62 per share by the real estate investment trust on Monday, April 16th. This represents a $2.48 annualized dividend and a dividend yield of 7.77%.
Blackstone Mortgage Trust has increased its dividend payment by an average of 9.1% annually over the last three years. Blackstone Mortgage Trust has a payout ratio of 109.7% 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 $2.43 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 102.1%.
Shares of Blackstone Mortgage Trust (BXMT) traded down $0.16 during trading on Tuesday, hitting $31.92. The stock had a trading volume of 560,671 shares, compared to its average volume of 912,699. The firm has a market cap of $3,445.98, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 2.64 and a beta of 0.57. Blackstone Mortgage Trust has a fifty-two week low of $29.51 and a fifty-two week high of $33.08.
Several research analysts have commented on BXMT shares. Keefe, Bruyette & Woods downgraded Blackstone Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 7th. B. Riley set a $33.00 price objective on Blackstone Mortgage Trust and gave the company a “buy” rating in a research report on Thursday, February 15th. Wells Fargo & Co began coverage on Blackstone Mortgage Trust in a research report on Wednesday, December 6th. They set an “outperform” rating on the stock. Zacks Investment Research cut Blackstone Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. cut Blackstone Mortgage Trust from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $33.60.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc is a holding company. The Company conducts its operations as a real estate investment trust for the United States federal income tax purposes. The Company originates and purchases senior loans collateralized by properties in North America and Europe. The Company’s business is focused on originating or acquiring senior, floating rate mortgage loans that are secured by a first priority mortgage on commercial real estate assets primarily in the office, lodging, retail, residential and industrial sectors.
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