BrightSpire Capital (NYSE:BRSP) Price Target Lowered to $7.00 at Barclays

BrightSpire Capital (NYSE:BRSP) had its price target cut by Barclays from $8.00 to $7.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Bank of America downgraded shares of BrightSpire Capital from a neutral rating to an underperform rating and set a $6.50 price objective for the company. in a report on Monday, March 4th.

BrightSpire Capital Stock Performance

BRSP stock traded down $0.15 during trading on Thursday, reaching $6.02. 1,352,491 shares of the stock were exchanged, compared to its average volume of 709,242. BrightSpire Capital has a twelve month low of $5.20 and a twelve month high of $8.01. The company has a current ratio of 0.48, a quick ratio of 0.55 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $786.45 million, a P/E ratio of -10.95 and a beta of 1.89. The stock has a 50 day simple moving average of $6.59 and a 200-day simple moving average of $6.76.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $27.43 million for the quarter, compared to analyst estimates of $28.64 million. BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. During the same period in the previous year, the business posted $0.26 EPS. As a group, sell-side analysts anticipate that BrightSpire Capital will post 0.9 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.29%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -145.45%.

Insider Buying and Selling at BrightSpire Capital

In other news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $6.76, for a total transaction of $338,000.00. Following the completion of the sale, the insider now owns 347,832 shares of the company’s stock, valued at $2,351,344.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.91% of the company’s stock.

Hedge Funds Weigh In On BrightSpire Capital

Several institutional investors have recently bought and sold shares of BRSP. Capstone Investment Advisors LLC lifted its holdings in BrightSpire Capital by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock worth $150,000 after buying an additional 1,800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of BrightSpire Capital by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 441,497 shares of the company’s stock worth $2,764,000 after buying an additional 2,296 shares during the last quarter. Arizona State Retirement System lifted its holdings in BrightSpire Capital by 6.7% in the third quarter. Arizona State Retirement System now owns 36,999 shares of the company’s stock valued at $232,000 after buying an additional 2,325 shares during the period. Private Advisor Group LLC lifted its holdings in BrightSpire Capital by 2.0% in the third quarter. Private Advisor Group LLC now owns 146,184 shares of the company’s stock valued at $915,000 after buying an additional 2,839 shares during the period. Finally, HighTower Advisors LLC boosted its stake in BrightSpire Capital by 6.2% in the third quarter. HighTower Advisors LLC now owns 51,316 shares of the company’s stock valued at $322,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.