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

BrightSpire Capital, Inc. (NYSE:BRSP) announced a quarterly dividend on Monday, June 16th, RTT News reports. Investors 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 dividend payout ratio of 90.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

BrightSpire Capital Price Performance

BrightSpire Capital stock traded down $0.02 during mid-day trading on Tuesday, reaching $5.16. The company had a trading volume of 134,993 shares, compared to its average volume of 739,407. BrightSpire Capital has a 1 year low of $4.16 and a 1 year high of $6.71. 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 company has a market capitalization of $672.53 million, a P/E ratio of -4.91 and a beta of 1.50. The stock’s 50-day simple moving average is $5.00 and its 200-day simple moving average is $5.55.

Institutional Investors Weigh In On BrightSpire Capital

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

Wall Street Analyst Weigh In

BRSP has been the subject of several recent analyst reports. Jones Trading reaffirmed a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Alliance Global Partners reaffirmed a “buy” rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. JMP Securities decreased their price target 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. Finally, Industrial Alliance Securities set a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, BrightSpire Capital 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.