BrightSpire Capital (BRSP) Declares $0.20 Dividend

BrightSpire Capital said on March 16, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 17, 2023.

At the current share price of $6.10 / share, the stock's dividend yield is 13.11%. Looking back five years and taking a sample every week, the average dividend yield has been 8.80%, the lowest has been 5.53%, and the highest has been 13.11%. The standard deviation of yields is 2.00 (n=78).

The current dividend yield is 2.16 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 2.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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Analyst Price Forecast Suggests 67.21% Upside

As of March 16, 2023, the average one-year price target for BrightSpire Capital is $10.20. The forecasts range from a low of $8.08 to a high of $13.12. The average price target represents an increase of 67.21% from its latest reported closing price of $6.10.

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The projected annual revenue for BrightSpire Capital is $137MM, a decrease of 62.30%. The projected annual non-GAAP EPS is $1.01.

What is the Fund Sentiment?

There are 320 funds or institutions reporting positions in BrightSpire Capital. This is an increase of 17 owner(s) or 5.61% in the last quarter. Average portfolio weight of all funds dedicated to BRSP is 0.15%, an increase of 21.84%. Total shares owned by institutions increased in the last three months by 1.06% to 53,499K shares. The put/call ratio of BRSP is 0.21, indicating a bullish outlook.

What are Large Shareholders Doing?

Nut Tree Capital Management holds 9,415K shares representing 7.31% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,788K shares representing 2.16% ownership of the company. No change in the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,326K shares representing 1.80% ownership of the company. In it's prior filing, the firm reported owning 2,295K shares, representing an increase of 1.33%. The firm decreased its portfolio allocation in BRSP by 7.36% over the last quarter.

IWM - iShares Russell 2000 ETF holds 2,083K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 1,995K shares, representing an increase of 4.25%. The firm decreased its portfolio allocation in BRSP by 6.61% over the last quarter.

Private Management Group holds 2,024K shares representing 1.57% ownership of the company. In it's prior filing, the firm reported owning 1,916K shares, representing an increase of 5.32%. The firm decreased its portfolio allocation in BRSP by 0.70% over the last quarter.

BrightSpire Capital Background Information
(This description is provided by the company.)

BrightSpire Capital, Inc., formerly Colony Credit Real Estate, Inc., is one of the largest publicly traded commercial real estate (CRE) credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE debt investments and net leased properties predominantly in the United States. CRE debt investments primarily consist of first mortgage loans, which the Company expects to be the primary investment strategy. BrightSpire Capital is organized as a Maryland corporation and taxed as a REIT for U.S. federal income tax purposes.

This story originally appeared on Fintel.