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

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.16 per share on Tuesday, April 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.71%.

BrightSpire Capital has increased its dividend payment by an average of 15.5% annually over the last three years. BrightSpire Capital has a payout ratio of 77.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

BrightSpire Capital Stock Down 0.6 %

Shares of BrightSpire Capital stock traded down $0.04 during trading on Monday, reaching $5.98. The company’s stock had a trading volume of 486,489 shares, compared to its average volume of 754,374. The company has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $5.87. BrightSpire Capital has a 1-year low of $5.07 and a 1-year high of $7.04. The company has a market cap of $774.87 million, a price-to-earnings ratio of -5.69 and a beta of 1.98. The company has a quick ratio of 0.73, a current ratio of 0.70 and a debt-to-equity ratio of 1.79.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $17.46 million for the quarter, compared to analysts’ expectations of $65.81 million. BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, equities analysts forecast that BrightSpire Capital will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

BRSP has been the topic of a number of recent analyst reports. Alliance Global Partners initiated coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 price target on the stock. B. Riley cut their target price on BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.69.

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.