BrightSpire Capital (NYSE:BRSP) Hits New 1-Year Low – Here’s What Happened

BrightSpire Capital, Inc. (NYSE:BRSP) shares reached a new 52-week low on Wednesday . The company traded as low as $4.80 and last traded at $4.8050, with a volume of 215789 shares traded. The stock had previously closed at $4.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley Financial decreased their target price on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Thursday, July 30th. JonesTrading restated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightSpire Capital in a report on Friday. Finally, Wall Street Zen lowered BrightSpire Capital from a “hold” rating to a “sell” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Stock Performance

The firm has a market cap of $607.93 million, a PE ratio of -20.89, a P/E/G ratio of 3.49 and a beta of 1.29. The stock’s 50 day moving average price is $5.23 and its 200 day moving average price is $5.56. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $48.70 million during the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. As a group, equities analysts forecast that BrightSpire Capital, Inc. will post 0.47 earnings per share for the current fiscal year.

BrightSpire Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend was Tuesday, June 30th. BrightSpire Capital’s payout ratio is -278.26%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Weiss Asset Management LP purchased a new position in BrightSpire Capital in the 1st quarter worth about $120,000. State of Wyoming acquired a new stake in shares of BrightSpire Capital during the first quarter worth about $65,000. Cassaday & Co Wealth Management LLC acquired a new position in BrightSpire Capital during the first quarter worth $32,000. KBC Group NV purchased a new stake in shares of BrightSpire Capital in the first quarter valued at about $48,000. Finally, Main Street Group LTD purchased a new position in BrightSpire Capital in the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

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.