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

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.16 per share on Wednesday, January 15th. This represents a $0.64 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date of this dividend is Tuesday, December 31st.

BrightSpire Capital has raised its dividend by an average of 53.3% per year over the last three years. BrightSpire Capital has a dividend payout ratio of 83.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect BrightSpire Capital to earn $0.69 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 92.8%.

BrightSpire Capital Stock Performance

Shares of BRSP opened at $6.20 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50-day moving average of $5.98 and a 200-day moving average of $5.90. The company has a market cap of $804.05 million, a PE ratio of -6.08 and a beta of 1.87. BrightSpire Capital has a one year low of $5.07 and a one year high of $8.01.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and set a $7.50 target price on shares of BrightSpire Capital in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

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.