BrightSpire Capital (NYSE:BRSP) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of BrightSpire Capital (NYSE:BRSP) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other analysts have also recently weighed in on the stock. B. Riley Financial dropped their price target on shares of BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Thursday, July 30th. JonesTrading reaffirmed a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Weiss Ratings cut BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, BTIG Research upgraded BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, April 22nd. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.50.

BrightSpire Capital Stock Up 1.3%

NYSE BRSP opened at $5.12 on Friday. BrightSpire Capital has a 52 week low of $4.85 and a 52 week high of $6.16. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.75. The business’s fifty day simple moving average is $5.39 and its 200-day simple moving average is $5.65. The firm has a market cap of $647.15 million, a PE ratio of -22.24 and a beta of 1.29.

BrightSpire Capital (NYSE:BRSP) last announced its quarterly earnings results 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 $48.70 million for the quarter, compared to analyst estimates of $64.31 million. As a group, equities analysts anticipate that BrightSpire Capital will post 0.51 earnings per share for the current year.

BrightSpire Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 12.5%. The ex-dividend date was Tuesday, June 30th. BrightSpire Capital’s dividend payout ratio is currently -278.26%.

Institutional Trading of BrightSpire Capital

Several institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. boosted its position in shares of BrightSpire Capital by 59.2% during the fourth quarter. Financial Gravity Asset Management Inc. now owns 4,835 shares of the company’s stock worth $27,000 after buying an additional 1,798 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in BrightSpire Capital during the 1st quarter valued at about $32,000. Axiom Investment Management LLC acquired a new position in BrightSpire Capital in the 1st quarter valued at about $33,000. National Bank of Canada FI grew its position in BrightSpire Capital by 50.0% in the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after acquiring 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 about $48,000. Institutional investors and hedge funds own 56.57% of the company’s stock.

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.