Brokerages Set BrightSpire Capital, Inc. (NYSE:BRSP) Price Target at $6.75

BrightSpire Capital, Inc. (NYSE:BRSP) has received an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $6.50.

Several research analysts have weighed in on BRSP shares. B. Riley Financial dropped their price target on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings lowered shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. BTIG Research upgraded shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Wednesday, April 22nd. Finally, JonesTrading reissued a “buy” rating and set a $6.50 price objective on shares of BrightSpire Capital in a report on Wednesday, July 29th.

BrightSpire Capital Stock Up 0.7%

Shares of BRSP stock opened at $5.01 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83. BrightSpire Capital has a one year low of $4.85 and a one year high of $6.16. The company’s fifty day moving average price is $5.42 and its 200-day moving average price is $5.66. The company has a market capitalization of $634.50 million, a price-to-earnings ratio of -21.80 and a beta of 1.29.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The business had revenue of $48.70 million during the quarter, compared to analysts’ expectations of $64.31 million. BrightSpire Capital had a positive return on equity of 7.01% and a negative net margin of 20.43%. Sell-side analysts expect that BrightSpire Capital will post 0.51 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 12.8%. The ex-dividend date was Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -278.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Financial Gravity Asset Management Inc. increased its position 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 worth $27,000 after purchasing an additional 1,798 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in BrightSpire Capital during the first quarter valued at $32,000. Axiom Investment Management LLC purchased a new position in shares of BrightSpire Capital in the 1st quarter worth $33,000. National Bank of Canada FI grew its stake in shares of BrightSpire Capital by 50.0% in the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after buying an additional 2,500 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of BrightSpire Capital in the 1st quarter worth about $48,000. 56.57% of the stock is currently owned by 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.