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

BrightSpire Capital, Inc. (NYSE:BRSP) has been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.50.

A number of analysts have recently weighed in on BRSP shares. B. Riley Financial decreased 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 report on Thursday, July 30th. Wall Street Zen downgraded shares of BrightSpire Capital from a “hold” rating to a “sell” rating in a research note on Monday, August 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of BrightSpire Capital in a research report on Friday, August 21st. Finally, JonesTrading restated a “buy” rating and issued a $6.50 target price on shares of BrightSpire Capital in a research note on Wednesday, July 29th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BRSP. Corient Private Wealth LP acquired a new stake in shares of BrightSpire Capital during the 2nd quarter valued at approximately $58,000. California State Teachers Retirement System boosted its holdings in BrightSpire Capital by 1,043.3% in the second quarter. California State Teachers Retirement System now owns 1,483,583 shares of the company’s stock worth $8,086,000 after purchasing an additional 1,353,818 shares during the period. Public Employees Retirement System of Ohio bought a new stake in BrightSpire Capital during the second quarter valued at $26,000. Bank of New York Mellon Corp bought a new stake in BrightSpire Capital during the second quarter valued at $3,754,000. Finally, Attessa Capital LLC acquired a new stake in shares of BrightSpire Capital during the second quarter worth $79,000. Institutional investors and hedge funds own 56.57% of the company’s stock.

BrightSpire Capital Stock Up 0.2%

Shares of BrightSpire Capital stock opened at $4.76 on Monday. BrightSpire Capital has a 1-year low of $4.75 and a 1-year high of $6.16. The company has a market capitalization of $602.24 million, a PE ratio of -20.69, a P/E/G ratio of 3.38 and a beta of 1.29. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $5.18 and a 200-day moving average of $5.54.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $48.70 million during the quarter, compared to analysts’ expectations of $64.31 million. As a group, equities analysts forecast that BrightSpire Capital will post 0.47 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.64 annualized dividend and a yield of 13.4%. BrightSpire Capital’s dividend payout ratio is presently -278.26%.

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.