BrightSpire Capital (BRSP) to Release Quarterly Earnings on Wednesday

BrightSpire Capital (NYSE:BRSP) is set to release its earnings data before the market opens on Wednesday, May 1st. Analysts expect BrightSpire Capital to post earnings of $0.23 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

BrightSpire Capital Stock Performance

NYSE BRSP opened at $6.50 on Wednesday. The stock has a market capitalization of $849.16 million, a price-to-earnings ratio of -50.00 and a beta of 1.89. BrightSpire Capital has a 12-month low of $5.20 and a 12-month high of $8.01. The business’s 50 day moving average is $6.67 and its two-hundred day moving average is $6.76. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.31%. The ex-dividend date of this dividend was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio is currently -615.38%.

Insider Buying and Selling

In related news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total value of $338,000.00. Following the sale, the insider now directly owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BRSP. Barclays lifted their price objective on BrightSpire Capital from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 22nd. Bank of America downgraded shares of BrightSpire Capital from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research note on Monday, March 4th.

About BrightSpire Capital

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.