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

BrightSpire Capital, Inc. (NYSE:BRSP) announced a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders 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 dividend yield of 10.16%.

BrightSpire Capital has increased its dividend payment by an average of 53.3% per year over the last three years. BrightSpire Capital has a 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 decline. Equities 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

BRSP stock traded down $0.04 during trading hours on Monday, hitting $6.30. 428,079 shares of the stock traded hands, compared to its average volume of 740,728. The stock has a 50-day simple moving average of $5.96 and a 200 day simple moving average of $5.90. The company has a market cap of $817.02 million, a P/E ratio of -6.18 and a beta of 1.87. BrightSpire Capital has a one year low of $5.07 and a one year high of $8.01. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.78.

Analysts Set New Price Targets

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