BrightSpire Capital, Inc. to Issue Quarterly Dividend of $0.16 (NYSE:BRSP)

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.16 per share on Tuesday, October 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.29%. The ex-dividend date of this dividend is Monday, September 30th.

BrightSpire Capital has increased its dividend by an average of 53.3% per year over the last three years. BrightSpire Capital has a dividend payout ratio of 89.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Stock Down 1.0 %

Shares of BRSP stock traded down $0.06 during trading hours on Thursday, reaching $5.67. The company had a trading volume of 200,723 shares, compared to its average volume of 732,814. The company has a 50 day moving average of $6.04 and a 200 day moving average of $6.45. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.48 and a current ratio of 0.48. BrightSpire Capital has a 1-year low of $5.20 and a 1-year high of $8.01.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). BrightSpire Capital had a negative net margin of 63.99% and a positive return on equity of 9.21%. The firm had revenue of $27.43 million during the quarter, compared to the consensus estimate of $28.64 million. During the same quarter in the prior year, the company earned $0.26 EPS. On average, analysts anticipate that BrightSpire Capital will post 0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Raymond James cut shares of BrightSpire Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. BTIG Research restated a “neutral” rating on shares of BrightSpire Capital in a research report on Friday, July 19th. Finally, Barclays lowered their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.33.

About BrightSpire Capital

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.