Richard Drury As I suspected months ago, Blackstone Mortgage Trust, Inc. (NYSE:BXMT) finally decided to cut its dividend amid continual problems in its loan portfolio. Blackstone Mortgage suffered a further decline in its performing loan percentage in the second quarter and chose to respond to the resulting deterioration of its portfolio quality by cutting its dividend by 24%. The move will save the company some cash, approximately $100M annually, and the distribution coverage metrics are set to improve as ...