businessinsider.com
Blackstone Mortgage Trust, a commercial real estate lender with a $22 billion loan portfolio, is cutting its dividend after losing $60 million in the second quarter and raising its reserves by $142.6 million.The company, a publicly traded lender that is managed by the $1 trillion investment behemoth Blackstone, said on Wednesday that it would shrink its dividend to 47 cents per share from 62 cents, a 24% reduction. Its stock tumbled nearly 12% on Wednesday.Executives at Blackstone Mortgage Trust…
over 1 year ago