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

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 10.16%.

BrightSpire Capital has raised its dividend payment by an average of 53.3% annually 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 fall. 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 Down 0.6 %

Shares of NYSE BRSP opened at $6.30 on Tuesday. The firm has a market cap of $817.02 million, a price-to-earnings ratio of -6.18 and a beta of 1.87. BrightSpire Capital has a 1 year low of $5.07 and a 1 year high of $8.01. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $5.96 and its 200-day simple moving average is $5.90.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $7.50 price target on shares of BrightSpire Capital in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.00.

BrightSpire Capital Company Profile

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.