Equity (Tables)

9 Months Ended

Sep. 30, 2018

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, 2018 ($ in thousands, except share and per share data):

	Class A Common Stock Offerings				2018 Total / Wtd. Avg.
	August 2018		At-the-Market  2018(1)
Shares issued		6,900,000		4,583,135		11,483,135
Share issue price(2)	$	32.60	$	32.73	$	32.65
Net proceeds(3)	$	222,275	$	147,512	$	369,787

(1)	Issuance represents shares issued under our at-the-market program, with a weighted-average issue price of $32.73.
(2)	Represents price per share paid by the underwriters or sales agents, as applicable. Net proceeds after underwriting or sales discounts and commissions were $32.26 and $32.24 per share for our August offering and at-the-market program, respectively.
(3)	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)	2018		2017
Beginning balance		108,081,077		94,709,290
Issuance of class A common stock(2)		11,484,414		971
Issuance of restricted class A common stock, net		300,921		286,773
Issuance of deferred stock units		23,730		20,560
Ending balance		119,890,142		95,017,594

(1)	Includes deferred stock units held by members of our board of directors of 220,947 and 189,587 as of September 30, 2018 and 2017, respectively.
(2)	Includes 1,279 and 971 shares issued under our dividend reinvestment program during the nine months ended September 30, 2018 and 2017, 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,
	2018		2017		2018		2017
Dividends declared per share of common stock	$	0.62	$	0.62	$	1.86	$	1.86
Total dividends declared	$	74,195	$	58,793	$	210,369	$	176,374

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				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Net income(1)	$	78,165	$	57,722	$	211,436	$	159,741
Weighted-average shares outstanding, basic and diluted		116,203,140		95,013,087		111,251,864		95,004,188
Per share amount, basic and diluted	$	0.67	$	0.61	$	1.90	$	1.68

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