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

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) declared a quarterly dividend on Monday, June 16th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 0.16 per share on Monday, July 14th. This represents a $0.64 annualized dividend and a yield of 12.32%. The ex-dividend date of this dividend is Monday, June 30th.

BrightSpire Capital has a 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 tumble.

BrightSpire Capital Trading Up 1.5%

BRSP traded up $0.08 during mid-day trading on Friday, reaching $5.20. The stock had a trading volume of 1,093,306 shares, compared to its average volume of 743,707. The firm's fifty day simple moving average is $5.03 and its two-hundred day simple moving average is $5.54. The stock has a market capitalization of $677.74 million, a P/E ratio of -9.28 and a beta of 1.50. BrightSpire Capital has a 52 week low of $4.16 and a 52 week high of $6.71. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.46 and a current ratio of 0.46.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in BrightSpire Capital by 90.1% in the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company's stock valued at $610,000 after buying an additional 51,977 shares during the last quarter. AQR Capital Management LLC bought a new position in BrightSpire Capital in the first quarter valued at $131,000. Goldman Sachs Group Inc. grew its position in BrightSpire Capital by 2.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company's stock valued at $11,184,000 after purchasing an additional 46,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BrightSpire Capital by 9.2% in 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 valued at $1,828,000 after buying an additional 27,713 shares during the last quarter. Finally, Jane Street Group LLC lifted 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 buying an additional 206,610 shares in the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BRSP has been the subject of a number of research reports. JMP Securities lowered their price objective on BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating for the company in a research report on Tuesday, April 22nd. Alliance Global Partners reaffirmed a "buy" rating on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Industrial Alliance Securities set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, April 30th. Finally, Jones Trading reiterated a "buy" rating and issued a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.