Capital Trust, Inc. (NYSE:BXMT) announced a quarterly dividend on Thursday, December 14th, RTT News reports. Investors of record on Friday, December 29th will be paid a dividend of 0.62 per share by the real estate investment trust on Tuesday, January 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.61%.
Capital Trust has increased its dividend by an average of 109.4% per year over the last three years and has raised its dividend every year for the last 3 years. Capital Trust has a payout ratio of 108.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Capital Trust to earn $2.36 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 105.1%.
Shares of Capital Trust (BXMT) traded up $0.02 during trading hours on Thursday, hitting $32.58. 807,150 shares of the company were exchanged, compared to its average volume of 684,622. Capital Trust has a fifty-two week low of $29.76 and a fifty-two week high of $32.96. The firm has a market capitalization of $3,428.70, a price-to-earnings ratio of 14.18 and a beta of 0.70.
A number of equities research analysts recently commented on the stock. B. Riley restated a “buy” rating and set a $33.00 price objective on shares of Capital Trust in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Capital Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. BidaskClub upgraded shares of Capital Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. FBR & Co lifted their price target on shares of Capital Trust from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods lowered shares of Capital Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 7th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.80.
In other Capital Trust news, Treasurer Douglas N. Armer sold 3,658 shares of Capital Trust stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $31.86, for a total value of $116,543.88. Following the sale, the treasurer now directly owns 49,561 shares in the company, valued at approximately $1,579,013.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony F. Marone, Jr. sold 1,070 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $31.95, for a total transaction of $34,186.50. Following the transaction, the chief financial officer now owns 15,504 shares in the company, valued at $495,352.80. The disclosure for this sale can be found here. Insiders sold a total of 6,516 shares of company stock worth $208,100 over the last quarter. Company insiders own 0.91% of the company’s stock.
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Capital Trust Company Profile
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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