Analysts Set BrightSpire Capital, Inc. (NYSE:BRSP) Target Price at $6.75

BrightSpire Capital, Inc. (NYSE:BRSP) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.75.

A number of brokerages have weighed in on BRSP. Barclays boosted their price target on BrightSpire Capital from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, February 19th. JonesTrading reaffirmed a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, February 18th. Weiss Ratings raised BrightSpire Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, BTIG Research raised BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, April 22nd.

Hedge Funds Weigh In On BrightSpire Capital

Institutional investors have recently made changes to their positions in the business. Waterfall Asset Management LLC increased its stake in shares of BrightSpire Capital by 225.7% in the third quarter. Waterfall Asset Management LLC now owns 644,158 shares of the company’s stock worth $3,498,000 after purchasing an additional 446,358 shares during the period. North Ground Capital increased its stake in shares of BrightSpire Capital by 90.5% in the third quarter. North Ground Capital now owns 2,520,000 shares of the company’s stock worth $13,684,000 after purchasing an additional 1,197,000 shares during the period. Allianz Asset Management GmbH increased its stake in shares of BrightSpire Capital by 123.3% in the third quarter. Allianz Asset Management GmbH now owns 206,239 shares of the company’s stock worth $1,120,000 after purchasing an additional 113,876 shares during the period. Fox Run Management L.L.C. bought a new position in shares of BrightSpire Capital in the third quarter worth about $175,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of BrightSpire Capital by 223.3% in the third quarter. Nisa Investment Advisors LLC now owns 67,124 shares of the company’s stock worth $376,000 after purchasing an additional 46,360 shares during the period. 56.57% of the stock is currently owned by institutional investors.

BrightSpire Capital Price Performance

BRSP opened at $5.67 on Friday. The stock has a market cap of $738.04 million, a price-to-earnings ratio of -20.98, a PEG ratio of 2.12 and a beta of 1.30. BrightSpire Capital has a 1 year low of $4.84 and a 1 year high of $6.16. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.40. The stock has a fifty day moving average price of $5.76 and a 200 day moving average price of $5.76.

BrightSpire Capital (NYSE:BRSP) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. The firm had revenue of $51.75 million for the quarter, compared to analyst estimates of $63.12 million. Analysts forecast that BrightSpire Capital will post 0.55 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.16 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.3%. BrightSpire Capital’s payout ratio is presently -237.04%.

BrightSpire Capital Company Profile

BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.

BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.