Equity (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Equity [Abstract] |
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| Summary of Class A Common Stock Issuances |
The following table details our issuance of class A
common stock during the year ended December 31, 2015 ($ in
thousands, except share and per share data):
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Class A Common Stock
Offerings |
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2015 Total /
Wtd.-Avg. |
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April 2015 |
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May 2015(1) |
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June 2015 |
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Shares issued
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23,000,000 |
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280,025 |
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11,500,000 |
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34,780,025 |
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Share issue price(2)
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$ |
29.75 |
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$ |
29.97 |
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$ |
29.42 |
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$ |
29.64 |
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Net proceeds(3)
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$ |
683,722 |
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$ |
7,895 |
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$ |
337,918 |
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$ |
1,029,535 |
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(1) |
Issuance represents 280,025 shares issued over a
five-day period in May
2015 under our at-the-market program.
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(2) |
Represents price per share paid by the underwriters
or sales agents, as applicable.
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(3) |
Net proceeds represents proceeds received from the
underwriters less applicable transaction costs.
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| Schedule of Movement in Outstanding Shares of Class A Common Stock, Restricted Class A Common Stock and Deferred Stock Units |
The following table details the movement in our
outstanding shares of class A common stock, including restricted
class A common stock and deferred stock units:
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Year Ended
December 31, |
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Common Stock Outstanding(1)
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2016 |
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2015 |
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2014 |
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Beginning balance
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93,843,847 |
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58,388,808 |
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29,602,884 |
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Issuance of class A common stock(2)
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1,070 |
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34,780,622 |
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28,275,006 |
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Issuance of restricted class A common stock, net
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836,867 |
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651,815 |
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490,381 |
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Issuance of deferred stock units
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27,506 |
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22,602 |
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20,537 |
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Ending balance
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94,709,290 |
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93,843,847 |
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58,388,808 |
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(1) |
Deferred stock units held by members of our board
of directors totaled 169,027, 141,521, and 118,919 as of
December 31, 2016, 2015, and 2014, respectively.
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(2) |
Includes issuance of 1,070, 597, and six shares
under our dividend reinvestment program during the years ended
December 31, 2016, 2015, and 2014, respectively.
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| Schedule of Dividend Activity |
The following table details our dividend activity
($ in thousands, except per share data):
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Year Ended
December 31, |
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2016 |
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2015 |
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2014 |
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Dividends declared per share of common stock
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$ |
2.48 |
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$ |
2.28 |
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$ |
1.98 |
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Percent taxable as ordinary dividends
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92.77 |
% |
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92.36 |
% |
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99.52 |
% |
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Percent taxable as capital gain dividends
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7.23 |
% |
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7.64 |
% |
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0.48 |
% |
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100.0 |
% |
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100.0 |
% |
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100.0 |
% |
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| Schedule of Basic and Diluted Earnings Per Share, or EPS, Based on Weighted-Average of Both Restricted and Unrestricted Class A Common Stock Outstanding |
The following table sets forth the calculation of
basic and diluted net income per share of class A common stock
based on the weighted-average of both restricted and unrestricted
class A common stock outstanding ($ in thousands, except per share
data):
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Year Ended
December 31, |
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2016 |
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2015 |
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2014 |
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Net income(1)
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$ |
238,297 |
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$ |
196,829 |
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$ |
90,045 |
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Weighted-average shares outstanding, basic and diluted
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94,165,351 |
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81,740,227 |
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48,394,478 |
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Per share amount, basic and diluted
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$ |
2.53 |
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$ |
2.41 |
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$ |
1.86 |
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| (1) |
Represents net income attributable to Blackstone
Mortgage Trust, Inc.
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