Equity (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Summary of Class A Common Stock Issuances

The following table details our issuance of class A common stock during the nine months ended September 30, 2019:

	Class A Common Stock Offerings				2019 Total /
	June 2019		At-the-Market 2019(1)		Wtd. Avg.
Shares issued		8,625,000		1,909,628		10,534,628
Gross share issue price(2)	$	36.00	$	34.63	$	35.75
Net share issue price(3)	$	35.62	$	34.28	$	35.38
Net proceeds(4)	$	306,952	$	65,389	$	372,341

(1) Issuance represents shares issued under our at-the-market program.

(2) Represents the weighted-average gross price per share paid by underwriters or sales agents, as applicable.

(3) Represents the weighted-average net proceeds per share after underwriting or sales discounts and commissions.

(4) Net proceeds represents proceeds received from the underwriters less applicable transaction costs.

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:

	Nine Months Ended September 30,
Common Stock Outstanding(1)	2019		2018
Beginning balance		123,664,577		108,081,077
Issuance of class A common stock(2)		10,535,507		11,484,414
Issuance of restricted class A common stock, net		317,339		300,921
Issuance of deferred stock units		23,428		23,730
Ending balance		134,540,851		119,890,142

(1)	Includes deferred stock units held by members of our board of directors of 252,267 and 220,947 as of September 30, 2019 and 2018, respectively.
(2)	Includes 879 and 1,279 shares issued under our dividend reinvestment program during the nine months ended September 30, 2019 and 2018, respectively.

Schedule of Dividend Activity

The following table details our dividend activity ($ in thousands, except per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Dividends declared per share of common stock	$	0.62	$	0.62	$	1.86	$	1.86
Total dividends declared	$	83,259	$	74,195	$	244,431	$	210,369

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):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Net income(1)	$	74,897	$	78,165	$	226,635	$	211,436
Weighted-average shares outstanding, basic and diluted		134,536,683		116,203,140		128,485,701		111,251,864
Per share amount, basic and diluted	$	0.56	$	0.67	$	1.76	$	1.90

(1)   Represents net income attributable to Blackstone Mortgage Trust.