BrightSpire Capital, Inc. (NYSE:BRSP) Given Average Recommendation of “Hold” by Brokerages

BrightSpire Capital, Inc. (NYSE:BRSP) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.50.

BRSP has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a report on Tuesday, September 1st. B. Riley Financial reduced their target price on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. JonesTrading reaffirmed a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a report on Wednesday, July 29th. Finally, Weiss Ratings cut BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 4th.

BrightSpire Capital Price Performance

Shares of NYSE BRSP traded down $0.06 during trading on Friday, hitting $4.12. The company had a trading volume of 304,921 shares, compared to its average volume of 1,138,790. BrightSpire Capital has a fifty-two week low of $4.10 and a fifty-two week high of $6.16. The stock has a fifty day simple moving average of $4.93 and a two-hundred day simple moving average of $5.42. 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 firm has a market capitalization of $521.91 million, a price-to-earnings ratio of -17.93, a price-to-earnings-growth ratio of 3.05 and a beta of 1.27.

BrightSpire Capital (NYSE:BRSP) last announced its 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 $48.67 million for the quarter, compared to analyst estimates of $64.31 million. On average, research analysts expect that BrightSpire Capital will post 0.47 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date of this dividend is Wednesday, September 30th. BrightSpire Capital’s dividend payout ratio is presently -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. boosted its stake in BrightSpire Capital by 59.2% in the fourth quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock valued at $27,000 after acquiring an additional 1,798 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of BrightSpire Capital in the 2nd quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of BrightSpire Capital in the 1st quarter worth approximately $32,000. Integrated Wealth Concepts LLC bought a new position in BrightSpire Capital during the 2nd quarter worth $31,000. Finally, Axiom Investment Management LLC bought a new position in BrightSpire Capital during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.