BrightSpire Capital (NYSE:BRSP) Reaches New 52-Week Low – Should You Sell?

BrightSpire Capital, Inc. (NYSE:BRSP) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.61 and last traded at $4.6250, with a volume of 527870 shares changing hands. The stock had previously closed at $4.68.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen raised BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. B. Riley Financial decreased their target price on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Thursday, July 30th. Weiss Ratings lowered shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 4th. Finally, JonesTrading restated a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, BrightSpire Capital currently has a consensus rating of “Hold” and a consensus target price of $6.50.

BrightSpire Capital Stock Down 2.1%

The stock has a market cap of $564.91 million, a PE ratio of -19.41, a price-to-earnings-growth ratio of 3.29 and a beta of 1.27. The business has a fifty day moving average of $5.05 and a 200-day moving average of $5.47. 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 released its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. Equities research analysts anticipate that BrightSpire Capital, Inc. will post 0.47 earnings per share for the current year.

BrightSpire Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 annualized dividend and a dividend yield of 14.3%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.

Institutional Trading of BrightSpire Capital

A number of hedge funds have recently added to or reduced their stakes in BRSP. Royal Bank of Canada grew its holdings in BrightSpire Capital by 90.1% during the 1st quarter. Royal Bank of Canada now owns 109,674 shares of the company’s stock worth $610,000 after acquiring an additional 51,977 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of BrightSpire Capital in the 1st quarter valued at about $131,000. Goldman Sachs Group Inc. lifted its position in shares of BrightSpire Capital by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,011,455 shares of the company’s stock worth $11,184,000 after purchasing an additional 46,749 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of BrightSpire Capital by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 328,809 shares of the company’s stock worth $1,828,000 after purchasing an additional 27,713 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of BrightSpire Capital by 257.9% during the first quarter. Jane Street Group LLC now owns 286,724 shares of the company’s stock valued at $1,594,000 after purchasing an additional 206,610 shares in the last quarter. 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.