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 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 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date is Monday, March 31st.

BrightSpire Capital has raised its dividend payment by an average of 15.5% annually 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 NYSE:BRSP opened at $5.68 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. BrightSpire Capital has a 1-year low of $5.07 and a 1-year high of $6.88. The stock has a market capitalization of $735.96 million, a P/E ratio of -5.40 and a beta of 1.98. The business has a 50-day moving average price of $5.88 and a two-hundred day moving average price of $5.88.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BRSP shares. Alliance Global Partners started coverage on BrightSpire Capital in a research note on Friday, January 17th. They set a “buy” rating and a $7.25 target price for the company. B. Riley lowered 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 report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.