BrightSpire Capital (NYSE:BRSP) Sees Strong Trading Volume – Here’s Why

Shares of BrightSpire Capital, Inc. (NYSE:BRSP) saw unusually-strong trading volume on Monday . 3,827,554 shares changed hands during mid-day trading, an increase of 299% from the previous session’s volume of 959,447 shares.The stock last traded at $5.5150 and had previously closed at $5.54.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BRSP. JonesTrading reissued a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, June 3rd. BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.75.

BrightSpire Capital Price Performance

The stock has a market capitalization of $711.98 million, a PE ratio of -20.20 and a beta of 1.28. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40. The stock’s 50 day moving average price is $5.73 and its 200-day moving average price is $5.77.

BrightSpire Capital (NYSE:BRSP) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). BrightSpire Capital had a positive return on equity of 7.46% and a negative net margin of 24.16%.The company had revenue of $51.75 million during the quarter, compared to analysts’ expectations of $63.12 million. As a group, equities analysts forecast that BrightSpire Capital, Inc. will post 0.51 EPS for the current year.

BrightSpire Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.7%. BrightSpire Capital’s payout ratio is presently -237.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. increased its holdings in BrightSpire Capital by 59.2% during the 4th 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 period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of BrightSpire Capital in the 1st quarter worth $32,000. Axiom Investment Management LLC bought a new position in shares of BrightSpire Capital during the 1st quarter worth $33,000. National Bank of Canada FI grew its position in shares of BrightSpire Capital by 50.0% during 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 purchased a new stake in BrightSpire Capital during the first quarter worth $48,000. Institutional investors own 56.57% of the company’s stock.

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.