Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Summary of Class A Common Stock Issuances

The following table details our issuance of class A common stock during the years ended December 31, 2019, 2018, and 2017 ($ in thousands, except share and per share data):

	Class A Common Stock Offerings
	2019(1)		2018(2)		2017
Shares issued		10,534,628		14,566,743		12,420,000
Gross share issue price(3)	$	35.75	$	33.16	$	31.90
Net share issue price(4)	$	35.38	$	32.76	$	31.57
Net proceeds(5)	$	372,341	$	476,420	$	391,558

(1) Issuance includes 1.9 million shares issued under our at-the-market program, with a weighted-average gross share issue price of $34.63.

(2) Issuance includes 7.7 million shares issued under our at-the-market program, with a weighted-average gross share issue price of $33.66.

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

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

(5) 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:

	Year Ended December 31,
Common Stock Outstanding(1)	2019		2018		2017
Beginning balance		123,664,577		108,081,077		94,709,290
Issuance of class A common stock(2)		10,535,842		14,568,431		12,421,401
Issuance of restricted class A common stock, net		1,032,082		983,447		922,196
Issuance of deferred stock units		31,227		31,622		28,190
Ending balance		135,263,728		123,664,577		108,081,077

(1) Includes deferred stock units held by members of our board of directors of 260,066, 228,839, and 197,217 as of December 31, 2019, 2018, and 2017, respectively.

(2) Includes 1,214, 1,688, and 1,401 shares issued under our dividend reinvestment program during the years ended December 31, 2019, 2018, and 2017, respectively.

Schedule of Dividend Activity

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

	Year Ended December 31,
	2019			2018			2017
Dividends declared per share of common stock	$	2.48		$	2.48		$	2.48
Percent taxable as ordinary dividends		100.00	%		99.70	%		97.20	%
Percent taxable as capital gain dividends		—	%		0.30	%		2.80	%
		100.0	%		100.0	%		100.0	%

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):

	Year Ended December 31,
	2019		2018		2017
Net income(1)	$	305,567	$	285,078	$	217,631
Weighted-average shares outstanding, basic and diluted		130,085,398		113,857,238		95,963,616
Per share amount, basic and diluted	$	2.35	$	2.50	$	2.27

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