BrightSpire Capital, Inc. to Issue Quarterly Dividend of $0.20 (NYSE:BRSP)

BrightSpire Capital, Inc. (NYSE:BRSP) declared a quarterly dividend on Monday, September 18th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.20 per share on Friday, October 13th. This represents a $0.80 dividend on an annualized basis and a yield of 11.75%. The ex-dividend date of this dividend is Thursday, September 28th.

BrightSpire Capital Stock Down 2.2 %

Shares of NYSE:BRSP traded down $0.15 on Monday, reaching $6.81. 512,937 shares of the company’s stock were exchanged, compared to its average volume of 1,013,022. BrightSpire Capital has a fifty-two week low of $5.21 and a fifty-two week high of $8.30. The business’s 50-day moving average is $6.92 and its two-hundred day moving average is $6.35. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRSP. Coppell Advisory Solutions Corp. purchased a new position in BrightSpire Capital during the fourth quarter valued at approximately $28,000. Lazard Asset Management LLC purchased a new position in BrightSpire Capital during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC grew its position in BrightSpire Capital by 229.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,393 shares of the company’s stock valued at $40,000 after purchasing an additional 4,455 shares in the last quarter. Clear Street Markets LLC acquired a new stake in BrightSpire Capital in the fourth quarter valued at approximately $41,000. Finally, Captrust Financial Advisors acquired a new stake in BrightSpire Capital in the second quarter valued at approximately $45,000. 57.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reissued a “market outperform” rating and set a $9.50 target price on shares of BrightSpire Capital in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.75.

About BrightSpire Capital

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States. The company It focuses on originating, acquiring, financing, and managing a portfolio of CRE mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.