BrightSpire Capital, Inc. (NYSE:BRSP) Receives Consensus Rating of “Hold” from Brokerages

BrightSpire Capital, Inc. (NYSE:BRSP) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.75.

BRSP has been the topic of several research analyst reports. BTIG Research upgraded shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Wednesday, April 22nd. Weiss Ratings cut shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, JonesTrading reaffirmed a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research report on Wednesday, June 3rd.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently modified their holdings of BRSP. Financial Gravity Asset Management Inc. grew 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 purchasing an additional 1,798 shares during the last quarter. Cerity Partners LLC raised its stake in shares of BrightSpire Capital by 9.1% during the 4th quarter. Cerity Partners LLC now owns 29,807 shares of the company’s stock worth $167,000 after acquiring an additional 2,480 shares in the last quarter. National Bank of Canada FI grew its holdings in BrightSpire Capital by 50.0% in the third quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock worth $41,000 after purchasing an additional 2,500 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of BrightSpire Capital by 22.5% during the 2nd quarter. M&T Bank Corp now owns 13,641 shares of the company’s stock valued at $69,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Eight 31 Financial LLC increased its position in BrightSpire Capital by 22.6% during the 3rd quarter. Eight 31 Financial LLC now owns 15,200 shares of the company’s stock valued at $83,000 after buying an additional 2,800 shares in the last quarter. Institutional investors own 56.57% of the company’s stock.

BrightSpire Capital Stock Down 0.3%

BRSP traded down $0.01 during trading on Friday, hitting $5.42. 3,835,684 shares of the company’s stock traded hands, compared to its average volume of 2,012,459. The stock has a market capitalization of $706.77 million, a price-to-earnings ratio of -20.09 and a beta of 1.28. The company’s 50 day simple moving average is $5.68 and its two-hundred day simple moving average is $5.76. BrightSpire Capital has a 12-month low of $4.84 and a 12-month high of $6.16. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.40.

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

BrightSpire Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.16 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a yield of 11.8%. BrightSpire Capital’s dividend payout ratio is presently -237.04%.

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.