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

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, June 16th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.16 per share on Monday, July 14th. This represents a $0.64 dividend on an annualized basis and a yield of 12.42%.

BrightSpire Capital has a payout ratio of 90.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

BrightSpire Capital Trading Down 0.3%

BRSP traded down $0.02 during mid-day trading on Tuesday, hitting $5.16. The stock had a trading volume of 134,993 shares, compared to its average volume of 739,407. The stock’s fifty day simple moving average is $5.00 and its 200-day simple moving average is $5.55. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.70 and a quick ratio of 0.73. The firm has a market capitalization of $672.53 million, a price-to-earnings ratio of -4.91 and a beta of 1.50. BrightSpire Capital has a 1-year low of $4.16 and a 1-year high of $6.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new position in BrightSpire Capital in the 1st quarter valued at about $128,000. AQR Capital Management LLC bought a new stake in shares of BrightSpire Capital during the 1st quarter worth approximately $131,000. Royal Bank of Canada increased its position in BrightSpire Capital by 90.1% during the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock worth $610,000 after purchasing an additional 51,977 shares in the last quarter. Jane Street Group LLC increased its position in BrightSpire Capital by 257.9% during the 1st quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock worth $1,594,000 after purchasing an additional 206,610 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in BrightSpire Capital by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock worth $1,828,000 after purchasing an additional 27,713 shares in the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JMP Securities dropped their price objective on shares of BrightSpire Capital from $7.50 to $6.50 and set a “market outperform” rating on the stock in a report on Tuesday, April 22nd. Alliance Global Partners reaffirmed a “buy” rating on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Jones Trading reaffirmed a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, April 30th. Finally, Industrial Alliance Securities set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.15.

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.