BrightSpire Capital, Inc. (BRSP) To Go Ex-Dividend on June 30th

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, June 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.16 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date of this dividend is Tuesday, June 30th.

BrightSpire Capital has raised its dividend by an average of 0.2%per year over the last three years. BrightSpire Capital has a payout ratio of 90.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect BrightSpire Capital to earn $0.61 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 104.9%.

BrightSpire Capital Stock Up 1.3%

Shares of BRSP stock opened at $5.67 on Wednesday. The stock’s 50-day simple moving average is $5.77 and its 200-day simple moving average is $5.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $738.04 million, a PE ratio of -20.98 and a beta of 1.28. BrightSpire Capital has a fifty-two week low of $4.84 and a fifty-two week high of $6.16.

BrightSpire Capital (NYSE:BRSP) last issued its earnings results on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). BrightSpire Capital had a positive return on equity of 7.46% and a negative net margin of 24.16%.The company had revenue of $51.75 million during the quarter, compared to analysts’ expectations of $63.12 million. Equities analysts expect that BrightSpire Capital will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BRSP shares. Barclays upped their target price on BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, February 19th. BTIG Research upgraded BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Wednesday, April 22nd. JonesTrading restated a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, June 3rd. Finally, Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.75.

BrightSpire Capital Company Profile

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.