Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Summary of Class A Common Stock Issuances

The following table details our issuances of class A common stock during the six months ended June 30, 2020 ($ in thousands, except share and per share data):     

	Class A Common Stock Offerings				2020 Total /
	May 2020(1)		June 2020		Wtd. Avg.
Shares issued		840,696		10,000,000		10,840,696
Gross share issue price(2)	$	22.93	$	28.20	$	27.79
Net share issue price(3)	$	22.93	$	27.91	$	27.52
Net proceeds(4)	$	19,277	$	278,322	$	297,599

(1)	Represents shares issued to our Manager in satisfaction of the management and incentive fees accrued in the first quarter of 2020. The per share price was calculated based on the volume-weighted average price on the NYSE of our class A common stock over the five trading days following our April 29, 2020 first quarter 2020 earnings conference call.
(2)	Represents the weighted-average gross price per share paid by the underwriters or sales agents, as applicable, in June 2020.
(3)	Represents the weighted-average net proceeds per share after underwriting or sales discounts and commissions, as applicable, in June 2020.
(4)	Net proceeds represents proceeds received from the underwriters less applicable transaction costs in June 2020.

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:

	Six Months Ended June 30,
Common Stock Outstanding(1)	2020		2019
Beginning balance		135,263,728		123,664,577
Issuance of class A common stock(2)		10,841,667		10,535,181
Issuance of restricted class A common stock, net		351,333		317,339
Issuance of deferred stock units		21,077		15,697
Ending balance		146,477,805		134,532,794

(1)	Includes deferred stock units held by members of our board of directors of 281,143 and 244,536 as of June 30, 2020 and 2019, respectively.
(2)	Includes 971 and 553 shares issued under our dividend reinvestment program during the six months ended June 30, 2020 and 2019, respectively.

Schedule of Dividend Activity

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Dividends declared per share of common stock	$	0.62	$	0.62	$	1.24	$	1.24
Total dividends declared	$	90,642	$	83,259	$	174,562	$	161,172

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 (loss) 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 June 30,				Six Months Ended June 30,
	2020		2019		2020			2019
Net income (loss)(1)	$	17,544	$	75,174	$	(35,808	)	$	151,738
Weighted-average shares outstanding, basic and diluted		138,299,418		126,475,244		136,959,341			125,410,064
Per share amount, basic and diluted	$	0.13	$	0.59	$	(0.26	)	$	1.21

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