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

Key Points

• BrightSpire Capital declared a quarterly dividend of $0.16 per share, payable October 14 to shareholders of record on September 30. The dividend implies an annualized payout of $0.64 and a yield of approximately 14.5%.
• The dividend may face future coverage pressure: the current payout ratio is 90.1%, while analysts expect next year’s earnings of $0.55 per share versus the $0.64 annual dividend.
• BrightSpire’s shares opened at $4.43, near their 12-month low, after the company reported quarterly EPS of $0.13—below the $0.15 consensus estimate—and revenue of $48.7 million, well below analysts’ $64.31 million forecast.

BrightSpire Capital, Inc. (NYSE:BRSP - Get Free Report) declared 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) dividend on an annualized basis and a 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 fall. 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 Stock Down 0.5%

Shares of NYSE BRSP opened at $4.43 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. The company has a 50-day moving average of $4.99 and a 200 day moving average of $5.45. BrightSpire Capital has a 12-month low of $4.40 and a 12-month high of $6.16. The stock has a market cap of $560.00 million, a PE ratio of -19.24, a P/E/G ratio of 3.17 and a beta of 1.27.

BrightSpire Capital (NYSE:BRSP - Get Free Report) last issued its 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). The company had revenue of $48.70 million for the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. As a group, sell-side analysts predict that BrightSpire Capital will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On BrightSpire Capital

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in BrightSpire Capital by 1,043.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,483,583 shares of the company's stock valued at $8,086,000 after buying an additional 1,353,818 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of BrightSpire Capital during the second quarter valued at about $3,754,000. Independent Financial Group LLC purchased a new stake in shares of BrightSpire Capital in the 1st quarter valued at approximately $270,000. Renaissance Technologies LLC lifted its holdings in shares of BrightSpire Capital by 18.8% in the 1st quarter. Renaissance Technologies LLC now owns 293,300 shares of the company's stock worth $1,642,000 after acquiring an additional 46,400 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of BrightSpire Capital by 56.8% during the 1st quarter. Quantinno Capital Management LP now owns 121,032 shares of the company's stock worth $678,000 after purchasing an additional 43,851 shares during the period. Institutional investors and hedge funds own 56.57% of the company's stock.

BrightSpire Capital Company Profile

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.

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