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

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) 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 annualized dividend and a yield of 12.42%.

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 decline.

BrightSpire Capital Price Performance

Shares of NYSE:BRSP traded down $0.02 during trading on Tuesday, reaching $5.16. The company had a trading volume of 120,675 shares, compared to its average volume of 739,341. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.73 and a current ratio of 0.70. The firm's fifty day moving average is $5.00 and its 200 day moving average is $5.55. BrightSpire Capital has a twelve month low of $4.16 and a twelve month high of $6.71. The firm has a market capitalization of $672.53 million, a PE ratio of -4.91 and a beta of 1.50.

Analysts Set New Price Targets

Several equities research analysts recently commented on BRSP shares. Jones Trading restated a "buy" rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, April 30th. JMP Securities dropped their target price on shares of BrightSpire Capital from $7.50 to $6.50 and set a "market outperform" rating for the company in a research note on Tuesday, April 22nd. Alliance Global Partners restated a "buy" rating on shares of BrightSpire Capital in a report on Wednesday, April 30th. Finally, Industrial Alliance Securities set a $6.50 target price on shares of BrightSpire Capital in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, BrightSpire Capital currently has an average rating of "Moderate Buy" and an average target price of $7.15.

Institutional Investors Weigh In On BrightSpire Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake 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 buying an additional 46,749 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in BrightSpire Capital by 9.2% during 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 worth $1,828,000 after buying an additional 27,713 shares during the last quarter. Jane Street Group LLC increased its stake in shares of BrightSpire Capital by 257.9% in the first 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. Royal Bank of Canada increased its stake in shares of BrightSpire Capital by 90.1% in the first 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. Finally, AQR Capital Management LLC purchased a new position in BrightSpire Capital during the first quarter valued at approximately $131,000. 56.57% of the stock is owned by institutional investors.

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.

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