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

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.16 per share on Wednesday, January 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.32%. The ex-dividend date 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 payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

Shares of BRSP stock opened at $6.20 on Wednesday. The firm’s 50-day moving average is $5.98 and its two-hundred day moving average is $5.90. 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 company has a market capitalization of $804.05 million, a PE ratio of -6.08 and a beta of 1.87. BrightSpire Capital has a 12 month low of $5.07 and a 12 month high of $8.01.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and issued a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock 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.