BrightSpire Capital, Inc. (BRSP) to Distribute Quarterly Dividend of $0.16 on October 14th

BrightSpire Capital, Inc. (NYSE:BRSP) announced a quarterly dividend on Monday, September 14th. Investors of record on Wednesday, September 30th will be given a dividend of 0.16 per share on Wednesday, October 14th. This represents a c) annualized dividend and a dividend yield of 14.5%. The ex-dividend date of this dividend is Wednesday, September 30th.

BrightSpire Capital has raised its dividend by an average of 0.2%annually over the last three years. BrightSpire Capital has a dividend 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 tumble. Equities research analysts expect BrightSpire Capital to earn $0.55 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 116.4%.

BrightSpire Capital Price Performance

Shares of NYSE BRSP opened at $4.42 on Wednesday. The stock has a market cap of $559.85 million, a price-to-earnings ratio of -19.24, a PEG ratio of 3.15 and a beta of 1.27. BrightSpire Capital has a 52 week low of $4.39 and a 52 week high of $6.16. The company’s 50-day moving average price is $4.97 and its 200 day moving average price is $5.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%.The company had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $64.31 million. As a group, research analysts forecast that BrightSpire Capital will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BRSP has been the topic of several research reports. B. Riley Financial cut their price objective on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Thursday, July 30th. JonesTrading reiterated a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a report on Tuesday, September 1st. Finally, Weiss Ratings lowered BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 4th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.50.

About BrightSpire Capital

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.