BrightSpire Capital (NYSE:BRSP) Stock Rating Lowered by Zacks Research

BrightSpire Capital (NYSE:BRSP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, Zacks reports.

A number of other research analysts have also recently commented on the company. Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Barclays decreased their price objective on BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Monday, October 5th. Citigroup reiterated a “market outperform” rating on shares of BrightSpire Capital in a report on Wednesday, October 7th. Citizens Jmp lowered their price objective on BrightSpire Capital from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 7th. Finally, B. Riley Financial dropped their target price on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

BrightSpire Capital Stock Performance

Shares of BRSP opened at $3.79 on Wednesday. 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 $3.70 and a one year high of $6.16. The company has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $5.17. The firm has a market capitalization of $480.14 million, a PE ratio of -16.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.31.

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

Hedge Funds Weigh In On BrightSpire Capital

Several large investors have recently made changes to their positions in the business. Fermata Advisors LLC bought a new stake in shares of BrightSpire Capital in the 3rd quarter worth approximately $40,000. Versant Capital Management Inc grew its stake in shares of BrightSpire Capital by 155.4% in the 3rd 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 last quarter. Integrated Wealth Concepts LLC bought a new position in BrightSpire Capital during the 2nd quarter valued at approximately $31,000. RFG Advisory LLC bought a new position in BrightSpire Capital during the 2nd quarter valued at approximately $72,000. Finally, Squarepoint Ops LLC bought a new position in BrightSpire Capital during the 2nd quarter valued at approximately $85,000. 56.57% of the stock is currently owned by hedge funds and other institutional investors.

BrightSpire Capital Company Profile

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.