BrightSpire Capital, Inc. (NYSE:BRSP) Declares $0.20 Quarterly Dividend

BrightSpire Capital, Inc. (NYSE:BRSP – Get Rating) announced a quarterly dividend on Friday, March 17th, Wall Street Journal reports. Investors of record on Friday, March 31st will be paid a dividend of 0.20 per share on Monday, April 17th. This represents a $0.80 annualized dividend and a dividend yield of 13.58%. The ex-dividend date is Thursday, March 30th.

BrightSpire Capital Price Performance

BrightSpire Capital stock traded down $0.21 during midday trading on Friday, reaching $5.89. The company’s stock had a trading volume of 1,158,218 shares, compared to its average volume of 1,322,648. BrightSpire Capital has a fifty-two week low of $5.83 and a fifty-two week high of $9.63. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s 50 day simple moving average is $7.13 and its 200 day simple moving average is $7.17. The firm has a market capitalization of $759.04 million, a PE ratio of 17.35 and a beta of 1.71.

Institutional Trading of BrightSpire Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRSP. Vanguard Group Inc. grew its holdings in BrightSpire Capital by 39.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,820,067 shares of the company’s stock valued at $55,654,000 after buying an additional 2,485,731 shares during the period. State Street Corp grew its holdings in BrightSpire Capital by 3.5% in the 3rd quarter. State Street Corp now owns 2,012,469 shares of the company’s stock valued at $13,092,000 after buying an additional 67,823 shares during the period. Geode Capital Management LLC grew its holdings in BrightSpire Capital by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,760,750 shares of the company’s stock valued at $10,969,000 after buying an additional 47,527 shares during the period. Goldman Sachs Group Inc. grew its holdings in BrightSpire Capital by 757.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,524,383 shares of the company’s stock valued at $11,509,000 after buying an additional 1,346,560 shares during the period. Finally, Morgan Stanley grew its holdings in BrightSpire Capital by 10.0% in the 4th quarter. Morgan Stanley now owns 1,258,922 shares of the company’s stock valued at $7,843,000 after buying an additional 114,415 shares during the period. Hedge funds and other institutional investors own 38.18% of the company’s stock.

Wall Street Analyst Weigh In

BRSP has been the subject of several research reports. BTIG Research downgraded BrightSpire Capital from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 6th. Jonestrading reaffirmed a “hold” rating on shares of BrightSpire Capital in a research note on Wednesday, March 1st.

About BrightSpire Capital

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BrightSpire Capital, Inc is a real estate investment trust. It originates, acquires, finances, and manages portfolio consisting of commercial real estate (CRE) debt investments and net leased properties in the United States. It operates through the following segments: Senior Mezzanine Loans and Preferred Equity, Net Leased and other Real Estate, CRE Debt Securities, and Corporate.