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

BrightSpire Capital, Inc. (NYSE:BRSP) has earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.50.

Several equities research analysts recently commented on the stock. JonesTrading reaffirmed a “buy” rating and issued a $6.50 price objective on shares of BrightSpire Capital in a research report on Wednesday, July 29th. Weiss Ratings lowered BrightSpire Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. B. Riley Financial decreased their price objective on BrightSpire Capital from $7.00 to $6.50 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded BrightSpire Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st.

BrightSpire Capital Price Performance

NYSE BRSP opened at $4.08 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $515.57 million, a price-to-earnings ratio of -17.72, a PEG ratio of 3.05 and a beta of 1.27. The business has a 50 day simple moving average of $4.81 and a 200 day simple moving average of $5.36. BrightSpire Capital has a 52-week low of $3.98 and a 52-week high of $6.16.

BrightSpire Capital (NYSE:BRSP) last released 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 company had revenue of $48.67 million during the quarter, compared to analyst estimates of $64.31 million. Analysts anticipate that BrightSpire Capital will post 0.47 earnings per share for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.64 annualized dividend and a yield of 15.7%. BrightSpire Capital’s dividend payout ratio is presently -278.26%.

Institutional Investors Weigh In On BrightSpire Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRSP. Bank of New York Mellon Corp grew its holdings in shares of BrightSpire Capital by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 693,630 shares of the company’s stock valued at $3,884,000 after acquiring an additional 22,562 shares in the last quarter. Renaissance Technologies LLC grew its stake in BrightSpire Capital by 18.8% in the first quarter. Renaissance Technologies LLC now owns 293,300 shares of the company’s stock valued at $1,642,000 after purchasing an additional 46,400 shares in the last quarter. Bank of America Corp DE grew its stake in BrightSpire Capital by 3.5% in the first quarter. Bank of America Corp DE now owns 217,042 shares of the company’s stock valued at $1,215,000 after purchasing an additional 7,408 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of BrightSpire Capital by 56.8% during the 1st quarter. Quantinno Capital Management LP now owns 121,032 shares of the company’s stock worth $678,000 after purchasing an additional 43,851 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of BrightSpire Capital by 93.9% during the 1st quarter. Sei Investments Co. now owns 82,373 shares of the company’s stock worth $461,000 after purchasing an additional 39,900 shares during the last quarter. 56.57% of the stock is owned by institutional investors.

BrightSpire Capital Company Profile

BrightSpire Capital, Inc is a real estate investment trust that focuses on commercial real estate credit and investments. The company primarily originates, acquires and manages loans and other investments secured by commercial properties, with an emphasis on providing financing to property owners, operators and developers.

BrightSpire’s investment activities may include senior mortgage loans, mezzanine loans, preferred equity and other forms of structured commercial real estate financing.