BrightSpire Capital (NYSE:BRSP) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of BrightSpire Capital (NYSE:BRSP) from a sell rating to a hold rating in a report issued on Sunday.

Several other brokerages have also weighed in on BRSP. BTIG Research upgraded BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, April 22nd. B. Riley Financial lowered their price target on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Thursday, July 30th. JonesTrading reissued a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, July 29th. Finally, Weiss Ratings lowered BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BrightSpire Capital currently has a consensus rating of “Hold” and a consensus price target of $6.50.

BrightSpire Capital Trading Down 0.1%

BrightSpire Capital stock opened at $5.00 on Friday. The firm has a market cap of $631.97 million, a PE ratio of -21.72, a P/E/G ratio of 3.56 and a beta of 1.29. BrightSpire Capital has a 12 month low of $4.85 and a 12 month high of $6.16. The stock’s 50 day simple moving average is $5.33 and its two-hundred day simple moving average is $5.62. 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 posted its earnings results 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). BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. The firm had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $64.31 million. Analysts anticipate that BrightSpire Capital will post 0.47 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 12.8%. The ex-dividend date was Tuesday, June 30th. BrightSpire Capital’s payout ratio is presently -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds have recently made changes to their positions in the company. North Ground Capital raised its position in shares of BrightSpire Capital by 21.2% in the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock valued at $17,105,000 after buying an additional 534,552 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in BrightSpire Capital by 13.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock worth $15,996,000 after purchasing an additional 348,931 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of BrightSpire Capital by 13.8% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 2,335,970 shares of the company’s stock worth $12,684,000 after purchasing an additional 284,046 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BrightSpire Capital by 7.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,295,502 shares of the company’s stock worth $12,465,000 after purchasing an additional 159,705 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of BrightSpire Capital by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company’s stock valued at $12,557,000 after purchasing an additional 305,264 shares in the last quarter. Institutional investors and hedge funds 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.