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

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 annualized dividend and a dividend yield of 10.71%.

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

BrightSpire Capital Stock Down 0.6 %

BRSP stock opened at $5.98 on Tuesday. The firm has a market cap of $774.87 million, a PE ratio of -5.69 and a beta of 1.98. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. The firm’s 50 day moving average price is $5.84 and its 200-day moving average price is $5.87. BrightSpire Capital has a one year low of $5.07 and a one year high of $7.04.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Alliance Global Partners assumed coverage on shares of BrightSpire Capital in a research report 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Moderate Buy” and an average target price 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.