BrightSpire Capital (NYSE:BRSP) Issues Earnings Results

BrightSpire Capital (NYSE:BRSP) issued its earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.44), FiscalAI reports. BrightSpire Capital had a negative net margin of 26.91% and a positive return on equity of 7.51%.

BrightSpire Capital Trading Up 1.4%

BRSP stock traded up $0.08 during trading on Tuesday, hitting $5.81. The company had a trading volume of 788,294 shares, compared to its average volume of 694,466. The stock has a market cap of $753.73 million, a price-to-earnings ratio of -19.37 and a beta of 1.39. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $5.88 and a 200-day moving average price of $5.64. BrightSpire Capital has a 12 month low of $4.16 and a 12 month high of $6.32.

BrightSpire Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date was Wednesday, December 31st. BrightSpire Capital’s dividend payout ratio is presently -213.33%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BRSP shares. Weiss Ratings raised BrightSpire Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 3rd. B. Riley Financial initiated coverage on BrightSpire Capital in a report on Monday, January 5th. They set a “buy” rating and a $7.50 price target for the company. Finally, Citigroup reissued a “market outperform” rating on shares of BrightSpire Capital in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BrightSpire Capital currently has an average rating of “Moderate Buy” and a consensus target price of $6.40.

Institutional Trading of BrightSpire Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRSP. Millennium Management LLC boosted its stake in BrightSpire Capital by 2,405.4% in the third quarter. Millennium Management LLC now owns 591,441 shares of the company’s stock valued at $3,212,000 after acquiring an additional 567,834 shares during the last quarter. North Ground Capital grew its stake in shares of BrightSpire Capital by 21.2% during the fourth quarter. North Ground Capital now owns 3,054,552 shares of the company’s stock worth $17,105,000 after purchasing an additional 534,552 shares during the period. Blair William & Co. IL bought a new stake in BrightSpire Capital in the fourth quarter valued at about $2,075,000. Goldman Sachs Group Inc. lifted its stake in BrightSpire Capital by 13.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,856,367 shares of the company’s stock valued at $15,996,000 after buying an additional 348,931 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BrightSpire Capital by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,242,261 shares of the company’s stock worth $12,557,000 after buying an additional 305,264 shares during the last quarter. 56.57% of the stock is currently owned by institutional investors and hedge funds.

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.