Citizens Jmp Issues Pessimistic Forecast for BrightSpire Capital (NYSE:BRSP) Stock Price

BrightSpire Capital (NYSE:BRSP) had its target price dropped by Citizens Jmp from $7.00 to $6.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target points to a potential upside of 58.52% from the stock’s current price.

A number of other equities analysts have also commented on BRSP. Wall Street Zen raised shares of BrightSpire Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Barclays cut their price objective on shares of BrightSpire Capital from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Monday. The Goldman Sachs Group raised shares of BrightSpire Capital to a “buy” rating in a report on Wednesday. Citigroup reiterated a “market outperform” rating on shares of BrightSpire Capital in a research report on Wednesday. Finally, JonesTrading reiterated a “buy” rating and issued a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

BrightSpire Capital Stock Performance

NYSE:BRSP opened at $3.79 on Wednesday. The stock has a market cap of $478.88 million, a P/E ratio of -16.46, a PEG ratio of 2.80 and a beta of 1.31. The stock has a 50 day simple moving average of $4.58 and a 200 day simple moving average of $5.26. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.75. BrightSpire Capital has a 1-year low of $3.72 and a 1-year high of $6.16.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $48.67 million during the quarter, compared to analyst estimates of $64.31 million. BrightSpire Capital had a negative net margin of 20.43% and a positive return on equity of 7.01%. Research analysts anticipate that BrightSpire Capital will post 0.45 earnings per share for the current year.

Institutional Trading of BrightSpire Capital

Several large investors have recently made changes to their positions in BRSP. Financial Gravity Asset Management Inc. increased its holdings 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 valued at $27,000 after acquiring an additional 1,798 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of BrightSpire Capital in the 2nd quarter worth $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in BrightSpire Capital in the 1st quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new stake in BrightSpire Capital in the 2nd quarter valued at $31,000. Finally, Axiom Investment Management LLC bought a new stake in BrightSpire Capital during the 1st quarter valued at $33,000. Institutional investors and hedge funds 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.