BrightSpire Capital, Inc. (NYSE:BRSP) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.00.

A number of research firms have recently issued reports on BRSP. The Goldman Sachs Group upgraded shares of BrightSpire Capital to a “buy” rating in a research note on Wednesday, October 7th. Weiss Ratings lowered shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. Citizens Jmp lowered their price target on shares of BrightSpire Capital from $7.00 to $6.00 and set a “market outperform” rating for the company in a report on Wednesday, October 7th. JonesTrading reaffirmed a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of BrightSpire Capital in a report on Wednesday, October 7th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in BrightSpire Capital in the second quarter worth $3,754,000. Quantinno Capital Management LP raised its holdings in shares of BrightSpire Capital by 56.8% during the first quarter. Quantinno Capital Management LP now owns 121,032 shares of the company’s stock worth $678,000 after purchasing an additional 43,851 shares during the period. Weiss Asset Management LP acquired a new stake in shares of BrightSpire Capital during the first quarter worth $120,000. Renaissance Technologies LLC raised its holdings in shares of BrightSpire Capital by 18.8% during the first quarter. Renaissance Technologies LLC now owns 293,300 shares of the company’s stock worth $1,642,000 after purchasing an additional 46,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of BrightSpire Capital by 202.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 33,536 shares of the company’s stock worth $188,000 after buying an additional 22,436 shares during the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Stock Down 0.4%

BrightSpire Capital stock traded down $0.01 during midday trading on Tuesday, hitting $3.77. 189,738 shares of the company were exchanged, compared to its average volume of 1,224,802. The company has a market cap of $477.61 million, a PE ratio of -16.41, a price-to-earnings-growth ratio of 2.86 and a beta of 1.31. BrightSpire Capital has a fifty-two week low of $3.72 and a fifty-two week high of $6.16. The company’s fifty day moving average price is $4.48 and its 200-day moving average price is $5.21. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. The firm had revenue of $48.67 million during the quarter, compared to analyst estimates of $64.31 million. On average, research analysts predict that BrightSpire Capital will post 0.44 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 17.0%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.

About BrightSpire Capital

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing commercial real estate debt and related investments.

Its investment activities primarily include senior mortgage loans, mezzanine loans, subordinated debt, preferred equity and other credit investments secured by or connected to commercial properties. BrightSpire generally targets transitional and institutional-quality real estate across property types such as office, multifamily, industrial, retail and hospitality.

The company was formed in 2018 as Colony Credit Real Estate and later adopted the BrightSpire Capital name.