BrightSpire Capital, Inc. (NYSE:BRSP) Receives $6.75 Consensus PT from Brokerages

BrightSpire Capital, Inc. (NYSE:BRSP) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.75.

A number of brokerages have issued reports on BRSP. Weiss Ratings downgraded shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Wednesday, April 22nd. JonesTrading reissued a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, June 3rd. Finally, Barclays boosted their price objective on shares of BrightSpire Capital from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, February 19th.

BrightSpire Capital Stock Up 1.3%

Shares of BrightSpire Capital stock opened at $5.67 on Wednesday. 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 company’s fifty day simple moving average is $5.77 and its two-hundred day simple moving average is $5.78. The company has a market cap of $738.04 million, a P/E ratio of -20.98 and a beta of 1.28. BrightSpire Capital has a 12-month low of $4.84 and a 12-month high of $6.16.

BrightSpire Capital (NYSE:BRSP) last issued 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). The company had revenue of $51.75 million for the quarter, compared to analysts’ expectations of $63.12 million. BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%. Research analysts anticipate that BrightSpire Capital will post 0.51 EPS for the current year.

BrightSpire Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.3%. BrightSpire Capital’s dividend payout ratio is currently -237.04%.

Institutional Trading of BrightSpire Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. grew its position in shares of BrightSpire Capital by 59.2% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock worth $27,000 after buying an additional 1,798 shares during the period. Cerity Partners LLC grew its position in shares of BrightSpire Capital by 9.1% in the 4th quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock worth $167,000 after buying an additional 2,480 shares during the period. National Bank of Canada FI grew its position in shares of BrightSpire Capital by 50.0% in the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after buying an additional 2,500 shares during the period. M&T Bank Corp grew its position in shares of BrightSpire Capital by 22.5% in the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock worth $69,000 after buying an additional 2,501 shares during the period. Finally, Eight 31 Financial LLC grew its position in shares of BrightSpire Capital by 22.6% in the 3rd quarter. Eight 31 Financial LLC now owns 15,200 shares of the company’s stock worth $83,000 after buying an additional 2,800 shares during the period. 56.57% of the stock is owned by hedge funds and other institutional investors.

About BrightSpire Capital

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.