Wall Street Zen Upgrades BrightSpire Capital (NYSE:BRSP) to “Hold”

BrightSpire Capital (NYSE:BRSP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. JonesTrading reissued a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research note on Wednesday, July 29th. B. Riley Financial lowered 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. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BrightSpire Capital in a report on Friday, August 21st. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.50.

BrightSpire Capital Price Performance

Shares of BRSP opened at $4.68 on Tuesday. BrightSpire Capital has a 12-month low of $4.63 and a 12-month high of $6.16. The business has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $5.51. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.75. The stock has a market cap of $591.99 million, a PE ratio of -20.34, a PEG ratio of 3.30 and a beta of 1.27.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $64.31 million. Analysts anticipate that BrightSpire Capital will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of BrightSpire Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in shares of BrightSpire Capital during the 2nd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. grew its position in BrightSpire Capital by 59.2% during the fourth quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after buying an additional 1,798 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in BrightSpire Capital during the first quarter worth about $32,000. Axiom Investment Management LLC purchased a new stake in BrightSpire Capital during the first quarter worth about $33,000. Finally, 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 worth $41,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Company Profile

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.