Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Summary of Class A Common Stock Issuances

The following table details our issuances of class A common stock during the nine months ended September 30, 2021 ($ in thousands, except share and per share data):

	Class A Common Stock Offerings
	September 2021
Shares issued		10,000,000
Gross / net issue price per share(1)		$31.45 / $31.24
Net proceeds(2)		$311,955

(1)	Represents the gross price per share issued, as well as the net proceeds per share after underwriting or sales discounts and commissions.
(2)	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)	2021		2020
Beginning balance		147,086,722		135,263,728
Issuance of class A common stock(2)		10,001,429		10,842,295
Issuance of restricted class A common stock, net(3)		234,229		351,333
Issuance of deferred stock units		50,009		33,790
Ending balance		157,372,389		146,491,146

(1)	Includes 356,700 and 293,856 deferred stock units held by members of our board of directors as of September 30, 2021 and 2020, respectively.
(2)	Includes 1,429 and 1,599 shares issued under our dividend reinvestment program during the nine months ended September 30, 2021 and 2020, respectively.
(3)	The amounts are net of 29,580 and 249 shares of restricted class A common stock forfeited under our stock-based incentive plans during the nine months ended September 30, 2021 and 2020, respectively. See Note 14 for further discussion of our stock-based incentive plans.

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,
	2021		2020		2021		2020
Dividends declared per share of common stock	$	0.62	$	0.62	$	1.86	$	1.86
Class A common stock dividends declared	$	97,350	$	90,642	$	279,659	$	265,205
Deferred stock unit dividends declared		202		174		591		502
Total dividends declared	$	97,552	$	90,816	$	280,250	$	265,707

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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income(1)	$	83,757	$	89,860	$	295,254	$	54,054
Weighted-average shares outstanding, basic and diluted		149,214,819		146,484,651		147,971,737		140,157,620
Per share amount, basic and diluted	$	0.56	$	0.61	$	2.00	$	0.39

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