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

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, March 17th, RTT News reports. Investors 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 raised 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 tumble.

BrightSpire Capital Stock Performance

Shares of BRSP stock opened at $5.98 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. The firm has a fifty day moving average price of $5.84 and a 200 day moving average price of $5.87. The company has a market cap of $774.87 million, a P/E ratio of -5.69 and a beta of 1.98. BrightSpire Capital has a 12 month low of $5.07 and a 12 month high of $7.04.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). BrightSpire Capital had a negative net margin of 79.23% and a positive return on equity of 8.82%. The company had revenue of $17.46 million during the quarter, compared to analyst estimates of $65.81 million. During the same quarter in the prior year, the company earned $0.28 EPS. Sell-side analysts predict that BrightSpire Capital will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BRSP. B. Riley decreased their price objective on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Alliance Global Partners started coverage on shares of BrightSpire Capital in a research note on Friday, January 17th. They issued a “buy” rating and a $7.25 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.69.

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.