BrightSpire Capital (NYSE:BRSP) Announces Earnings Results, Misses Estimates By $0.02 EPS

BrightSpire Capital (NYSE:BRSP) posted its quarterly earnings results on Tuesday. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02), FiscalAI reports. BrightSpire Capital had a positive return on equity of 7.46% and a negative net margin of 24.16%.

BrightSpire Capital Trading Up 0.1%

Shares of BRSP stock traded up $0.01 during trading on Tuesday, hitting $5.25. 1,665,415 shares of the stock traded hands, compared to its average volume of 1,100,888. The firm has a market capitalization of $683.31 million, a P/E ratio of -19.43 and a beta of 1.28. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day moving average price is $5.51 and its 200-day moving average price is $5.70. BrightSpire Capital has a 52-week low of $4.93 and a 52-week high of $6.16.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.2%. BrightSpire Capital’s dividend payout ratio (DPR) is currently -237.04%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in 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. CIBC Private Wealth Group LLC grew its holdings in shares of BrightSpire Capital by 812.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 10,945 shares of the company’s stock worth $59,000 after purchasing an additional 9,745 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of BrightSpire Capital by 101.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company’s stock worth $60,000 after purchasing an additional 6,001 shares during the period. BNP Paribas Financial Markets increased its position in shares of BrightSpire Capital by 73.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,576 shares of the company’s stock worth $64,000 after purchasing an additional 5,314 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of BrightSpire Capital by 6,025.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,251 shares of the company’s stock worth $67,000 after purchasing an additional 12,051 shares during the last quarter. 56.57% of the stock is currently 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.