10 Best Dividend Stocks with Over 9% Yield According to Analysts

6. BrightSpire Capital, Inc. (NYSE:BRSP)

Upside Potential as of August 12: 25.8%

Dividend Yield as of August 12: 12.08%

BrightSpire Capital, Inc. (NYSE:BRSP) is a California-based internally managed real estate credit company that manages a diversified portfolio of commercial real estate debt and net lease real estate investments. The company is facing challenges due to declining real estate values as it continues to acquire more properties, many of which have defaulted on loans and have not yet been sold at acceptable prices. The decrease in book value in the second quarter was primarily due to legacy office equity investments. Although the watchlist has remained stable from quarter to quarter and there is sufficient visibility to begin new lending activities, the loss of cash earnings from these legacy investments impacts the short term more than the future loan origination timeline. Consequently, to focus on long-term planning, the company is reducing its dividend during this reinvestment period.

Even with a dividend cut, analysts see potential in BrightSpire Capital, Inc. (NYSE:BRSP). Additionally, the company’s consistent dividend payments since 2018 contribute to its appeal. Although it has announced a reduction in dividends, the cut will not take effect until the next quarter, and it continued with its previous payout of $0.20 per share for this quarter. Street analysts maintained a consensus $6.67 price target on the stock, which reflects an upside potential of nearly 26%. With a dividend yield of 12.08% as of August 13, BRSP is one of the best dividend stocks on our list.

According to Insider Monkey’s database of Q1 2024, 11 hedge funds held stakes in BrightSpire Capital, Inc. (NYSE:BRSP), down slightly from 13 in the previous quarter. The consolidated value of these stakes is more than $93.6 million.