BrightSpire Capital (NYSE:BRSP) Sees Unusually-High Trading Volume – Here’s What Happened

BrightSpire Capital, Inc. (NYSE:BRSP) shares saw unusually-strong trading volume on Monday . 3,827,554 shares were traded during mid-day trading, an increase of 299% from the previous session’s volume of 959,447 shares.The stock last traded at $5.5150 and had previously closed at $5.54.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JonesTrading restated a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Finally, BTIG Research upgraded BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.75.

BrightSpire Capital Stock Performance

The firm’s fifty day moving average is $5.71 and its 200-day moving average is $5.77. 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 market capitalization of $711.98 million, a PE ratio of -20.24 and a beta of 1.28.

BrightSpire Capital (NYSE:BRSP) last announced its earnings results on Tuesday, April 28th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 7.46% and a negative net margin of 24.16%. As a group, research analysts anticipate that BrightSpire Capital, Inc. will post 0.51 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date is Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio is -237.04%.

Institutional Investors Weigh In On BrightSpire Capital

A number of institutional investors have recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its stake in BrightSpire Capital by 59.2% during the 4th quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock worth $27,000 after acquiring an additional 1,798 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of BrightSpire Capital during the first quarter worth about $32,000. Axiom Investment Management LLC acquired a new stake in shares of BrightSpire Capital during the first quarter worth about $33,000. National Bank of Canada FI boosted its stake in shares of BrightSpire Capital by 50.0% in the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after purchasing an additional 2,500 shares during the period. Finally, KBC Group NV acquired a new position in shares of BrightSpire Capital in the first quarter valued at approximately $48,000. 56.57% of the stock is owned by institutional investors and hedge funds.

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.