BrightSpire Capital, Inc. (NYSE:BRSP) Plans $0.20 Quarterly Dividend

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, June 17th, NASDAQ reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.20 per share on Monday, July 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.63%. The ex-dividend date is Friday, June 28th.

BrightSpire Capital has increased its dividend payment by an average of 53.3% per year over the last three years. BrightSpire Capital has a payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect BrightSpire Capital to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 97.6%.

BrightSpire Capital Price Performance

Shares of BrightSpire Capital stock remained flat at $5.87 during mid-day trading on Thursday. The company’s stock had a trading volume of 11,510 shares, compared to its average volume of 701,007. BrightSpire Capital has a fifty-two week low of $5.20 and a fifty-two week high of $8.01. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.48 and a quick ratio of 0.48. The company has a fifty day moving average price of $6.08 and a 200-day moving average price of $6.68.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). BrightSpire Capital had a negative net margin of 33.20% and a positive return on equity of 9.36%. The company had revenue of $27.43 million during the quarter, compared to analyst estimates of $28.64 million. During the same period in the prior year, the business posted $0.26 EPS. As a group, analysts predict that BrightSpire Capital will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BRSP shares. Barclays cut their price target on BrightSpire Capital from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Raymond James cut BrightSpire Capital from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Finally, Bank of America cut BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price target for the company. in a report on Monday, March 4th.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.