BrightSpire Capital, Inc. (BRSP) to Issue Quarterly Dividend of $0.16 on April 15th

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, March 16th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.16 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date is Tuesday, March 31st.

BrightSpire Capital has increased its dividend payment by an average of 0.2%annually over the last three years. BrightSpire Capital has a payout ratio of 90.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

BrightSpire Capital Price Performance

NYSE BRSP opened at $5.52 on Friday. BrightSpire Capital has a twelve month low of $4.16 and a twelve month high of $6.16. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market capitalization of $709.39 million, a PE ratio of -21.21, a P/E/G ratio of 2.05 and a beta of 1.39. The stock has a 50-day simple moving average of $5.79 and a 200 day simple moving average of $5.66.

Analysts Set New Price Targets

Several brokerages have commented on BRSP. Weiss Ratings downgraded BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. B. Riley Financial assumed coverage on BrightSpire Capital in a research report on Monday, January 5th. They issued a “buy” rating and a $7.50 price objective for the company. Barclays raised their price objective on shares of BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, February 19th. Finally, JonesTrading reiterated a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.60.

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.