BrightSpire Capital (NYSE:BRSP) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research downgraded shares of BrightSpire Capital (NYSE:BRSP) from a hold rating to a strong sell rating in a research report report published on Wednesday,Zacks reports.

Several other equities analysts have also recently commented on BRSP. JonesTrading reissued a “buy” rating and set a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Barclays reduced their price target on shares of BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Monday, October 5th. Weiss Ratings cut shares of BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. Citizens Jmp lowered their price objective on shares of BrightSpire Capital from $7.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 7th. Finally, The Goldman Sachs Group upgraded shares of BrightSpire Capital to a “buy” rating in a research note on Wednesday, October 7th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.00.

BrightSpire Capital Stock Performance

Shares of NYSE BRSP opened at $3.79 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. The stock has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $5.17. The company has a market cap of $480.14 million, a PE ratio of -16.50, a P/E/G ratio of 2.78 and a beta of 1.31. BrightSpire Capital has a 12-month low of $3.70 and a 12-month high of $6.16.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The company had revenue of $48.67 million for the quarter, compared to the consensus estimate of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. On average, equities research analysts forecast that BrightSpire Capital will post 0.44 EPS for the current year.

BrightSpire Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were given a $0.16 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 16.9%. BrightSpire Capital’s dividend payout ratio (DPR) is -278.26%.

Hedge Funds Weigh In On BrightSpire Capital

A number of institutional investors have recently bought and sold shares of BRSP. Fermata Advisors LLC purchased a new stake in BrightSpire Capital during the third quarter valued at about $40,000. Versant Capital Management Inc boosted its holdings in shares of BrightSpire Capital by 155.4% in the third quarter. Versant Capital Management Inc now owns 13,037 shares of the company’s stock worth $50,000 after buying an additional 7,932 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of BrightSpire Capital in the second quarter worth approximately $31,000. RFG Advisory LLC purchased a new position in shares of BrightSpire Capital in the second quarter worth approximately $72,000. Finally, Squarepoint Ops LLC purchased a new position in shares of BrightSpire Capital in the second quarter worth approximately $85,000. Hedge funds and other institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, financing and managing commercial real estate debt and related investments.

Its investment activities primarily include senior mortgage loans, mezzanine loans, subordinated debt, preferred equity and other credit investments secured by or connected to commercial properties. BrightSpire generally targets transitional and institutional-quality real estate across property types such as office, multifamily, industrial, retail and hospitality.

The company was formed in 2018 as Colony Credit Real Estate and later adopted the BrightSpire Capital name.